It has entered into a binding agreement with Dusseldorf Airport to buy a 74.9% shareholding in the cargo handling unit and the 2 parties will merge their existing air cargo handling businesses and jointly develop them further.
The binding agreements were signed on 17 March and the closing of the transaction is subject to the approval of relevant antitrust authorities.
With the acquisition, Dusseldorf will become Swissport’s second largest air cargo site in Germany.
Warwick Brady, President and CEO of Swissport, says, “We are very pleased to enter into this long-term partnership with Düsseldorf Airport. It is a great example how we intend to partner with airports globally to strengthen their ground services and cargo handling offerings.
“We see that airports worldwide are interested in talking to us about different strategic options for their cargo and ground handling units. We believe Swissport is the right partner for them due to our global network and industry-leading operational capabilities.”