Swissport announced that PAI Partners SAS has agreed to the sale of Swissport to HNA Group Co. Ltd., a global enterprise group based in Haikou, China. Swissport, a ground cargo handling company for the air freight industry, will remain as a stand-alone business within HNA Group, complementing HNA’s existing activities including aviation, airport management, logistics and tourism.
Under HNA’s ownership, Swissport is expected to continue to expand its global footprint and continue to deliver its services to existing and future customers. Swissport’s Chairman, Thomas Staehelin commented, “We are pleased to become part of HNA Group and to continue to further strengthening our service offering and global network.”
Adam Tan, President of HNA Group said, “HNA is excited to support Swissport’s world class management team as they continue to provide the highest quality service to the airline industry and their passengers. HNA is committed to Swissport’s future success in the global aviation market”.
The total transaction value for 100% of the company is of CHF2.73bn. The transaction is subject to customary regulatory and anti-trust approvals by the relevant authorities. Closing is expected by end of this year.
