WFS And Fraport complete strategic partnership
NOV 4, 2015: Worldwide Flight Services (WFS) has completed its acquisition of a 51 percent shareholding in Fraport Cargo Services, confirming its strategic partnership with Fraport AG for airfreight handling at Frankfurt Airport.
Olivier Bijaoui, executive chairman, president & CEO of WFS, said, “The closing of this major transaction is a milestone for WFS. Synergizing our combined strengths and expertise, we will further position the joint FCS company as the biggest cargo handler at one of the world’s most important cargo hubs. This collaboration will build upon FCS’ decades of successful operations in the dynamic air cargo handling market.”
Fraport AG executive board chairman Dr. Stefan Schulte, commented, “We are launching a new chapter in cargo handling at Frankfurt with a very strong and competent global partner. We look forward to our future cooperation with WFS, a win-win partnership for our companies as well as our customers.”
Michael Müller, Fraport AG’s executive board member and executive director of labor relations, added, “The goal of our strategic partnership is to expand FCS’ global reach in the rapidly moving and highly competitive air cargo industry, to achieve sustainable success, and to strengthen Frankfurt’s role as Europe’s leading air cargo airport in the international logistics chain.”