Swissport International acquires minority stake in SAS' ground handling services
Swissport International and Scandinavian Airline Systems today announced they have signed an agreement by which Swissport acquires a 10% stake in each of SAS' three ground handling companies.
The acquisition which has insignificant impact on profitability and liquidity of the SAS Group is effective as of 1stNovember 2013. The divestment and outsourcing of ground handling is an important part of SAS' strategy to increase operational flexibility and effectiveness.
Rickard Gustafson, Group President and CEO SAS said: "I am very pleased to announce this important step in our ground handling strategy: We set out to find an industrial solution with a strong industry partner. With Swissport as a partner we will be able to develop the business while still delivering high quality to our customers."
Swissport International Ltd. provides ground services for around 118 million passengers and handles 3.5 million tons of cargo a year on behalf of some 650 client-companies in the aviation sector.