Swissport takes majority stake in Düsseldorf Airport cargo handling unit
Swissport has closed the acquisition of a 74.9% stake in Flughafen Düsseldorf Cargo, the cargo handling unit of Düsseldorf Airport.
Starting August 17, Swissport Deutschland and Flughafen Düsseldorf have embarked on a long-term joint venture partnership at Düsseldorf Airport, operating under the new name of Swissport DUS Cargo Services.
First announced in March this year, the deal sees Düsseldorf become Swissport’s second-largest air cargo site in Germany.
The Düsseldorf joint venture aligns with Swissport’s global mergers and acquisitions (M&A) plan.
Last year, the company acquired Alitalia’s ground handling unit at Rome-Fiumicino Airport in Italy.
“To complement its strong organic growth, Swissport is pursuing an ambitious M&A agenda that includes being an active consolidator in the aviation services industry as well as entering into partnerships and joint ventures globally,” said Pablo von Siebenthal, Swissport’s global head of Mergers & Acquisitions.
“In our conversations with airports and airlines around the world we see great interest from them in either selling or partnering with us for their own ground or cargo handling operations. They realize that as the leading aviation services company in the world, Swissport is their best partner.”
Bruno Stefani, Swissport’s chief executive for Germany, Switzerland, Austria and Italy said the deal “shows our commitment to the German market and solidifies our position in Düsseldorf and across Germany and sets the stage of further growth”.
“Across Germany, Swissport supports airlines from all over the world with a wide range of services including ground services, cargo handling and aviation fuelling,” he added.
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