Swissport to acquire Heathrow Cargo Handling Ltd
Swissport has planned to increase its shareholding to 100 percent in HCH
Feb 12, 2019: Swissport has planned to increase its shareholding to 100 percent from the current 50 percent in Heathrow Cargo Handling Ltd (HCH), which is held in a joint venture. With the recent agreement, Swissport will fully own the cargo handling company at one of Europe's busiest air cargo hubs.
"We are very satisfied that we can strategically round off our global cargo business with this selective acquisition," said Luzius Wirth, Swissport executive vice president Europe, Middle East & Africa. "On the basis of over 20 years of successful business, jointly with Air France, Swissport now has the right set up to further develop and enhance its service offering at London%u2018s Heathrow airport."
The HCH acquisition enables Swissport to invest further in its air cargo operation and service capabilities at Heathrow airport, where it operates two warehouses with a total surface of some 165,000 square feet (approx. 15,300 square metres). Last year, the HCH joint venture, with a workforce of some 120 employees, handled over 150,000 tonnes of air cargo, seven percent more than in 2017.
The completion of the HCH share acquisition by Swissport is subject to Competition and Markets Authority approval and is expected in the first half of 2019.
Swissport International AG, on behalf of over 850 client-companies, provides best-in-class airport ground services for some 282 million passengers annually and handles approximately 4.8 million tonnes of air cargo at 122 warehouses worldwide. With a workforce of some 66,000 the world's leading provider of airport ground services and air cargo handling is active at more than 300 airports in 50 countries on six continents.