Swissport to acquire 100 percent stake in Heathrow Cargo Handling
Feb 11, 2019: Swissport has announced its decision to increase its shareholding in Heathrow Cargo Handling Ltd. (HCH) to 100 percent from the current 50 percent stake.
The cargo handler will acquire remaining 50 percent stake in HCH, from its joint venture partner Air France.
The HCH joint venture has been providing cargo handling services to the world's leading airlines at Heathrow, one of Europe's busiest air cargo hubs, since 1995.
'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.
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 sq. ft. (approx. 15,300 sq. meters).
Last year, the HCH joint venture, with a workforce of some 120 employees, handled over 150,000 tons 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.