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.
Following the confirmation from the Swiss Federal Office of Civil Aviation, Zurich Airport has extended Swissport’s Ground Handling license by seven years. The license covers the period from 1 December 2018 until 30 November 2025. Zurich is Swissport’s largest organization in a global network of 315 airports.
In 2017 Swissport International Ltd. increased the number of passengers served on behalf of its airline clients to some 250 million (up 8.7% on 2016) and lifted the number of cargo tonnes handled to some 4.7 million (up 8.4%). At year-end, the company was present at 279 airports in 48 countries around the globe. Total revenue increased to CHF 3.1 billion in 2017 (up 6.4%).