Swissport receives a further USD 100 million (approximately EUR 83 million) repayment on its affiliate loan to HNA Group and agrees to a temporary remedies standstill period. Swissport will use funds from the repayment to prepay a portion of its own, existing term-loans, reducing its net debt position and significantly improving its leverage ratio.
Continued growth at Switzerland`s most advanced cargo warehouse at Basel EuroAirport – Planned expansion of cargo capacities also in Frankfurt
Swissport International Ltd. signed a long-term lease agreement with airport operator Fraport AG for a new air cargo warehouse at Frankfurt Airport’s CargoCity South. At around 16.000 square metres of surface the new cargo facility will be the third largest in Swissport’s global network of 133 air cargo warehouses. Construction is due to start in 2019, with the facility handed over to Swissport in 2020.
After a successful migration process, the market-leading departure control system by Amadeus Altea is now implemented at 30 airports in 10 different countries within the Swissport network, supporting the handling process of seven million passengers. It replaces Swissport’s existing departure control system axsControl DCS by DXC at these 30 airports.
Swissport Group ("Swissport"), the global leader in ground services and cargo handling, will defer the planned Initial Public Offering ("IPO") and listing of its shares on the SIX Swiss Exchange due to current market conditions. The company, a subsidiary of Chinese HNA Group Co. Ltd., had announced on January 25, 2018 its intention to seek an IPO.