Swissport Explained

Swissport International Ltd.
Area Served:Worldwide
Key People:Warwick Brady (President & CEO)
Industry:Aviation
Revenue:€2.99 billion (2018)[1]
Owner:International group of investors
Num Employees:Around 57,000
Location:Opfikon, Zürich, Switzerland
Locations:296 airports

Swissport International Ltd. is a Swiss aviation services company providing airport ground handling, lounge hospitality and cargo handling services. Its headquarters are located in Opfikon, Canton of Zürich, Switzerland.

In 2022, Swissport handled around 186 million passengers, 4.8 million tonnes of cargo, and over 3 million flights, on behalf of over 850 companies in the aviation sector. With around 57,000 personnel, Swissport is active at 296 locations in 44 countries.[2] [3] It provides multiple services to their customers which include passenger services (check-in and gate agents, lounge hospitality), security services, baggage services including ramp handling, fueling, executive aviation and air cargo handling. [4]

History

The company was founded in 1996 as Swissair Ground Services International, independent of the former Swissair. In the following years, the company expanded both through organic growth and through various acquisitions.[5] As part of the Swissair financial crisis, Swissport was first purchased by the British private equity firm Candover Investments and later sold in August 2005 to the Spanish construction company Ferrovial.[6] In the meantime, the company had grown through various acquisitions. At the end of 2010, Ferrovial sold Swissport for €654 million to the French private equity firm PAI Partners.[7]

In August 2013, Swissport announced the acquisition of competitor Servisair[8] which bought Handlex in Canada, a part of the group Transat in 2012. In December 2013, the acquisition was approved, subject to conditions by the European Commission.[9]

Over the years, Swissport has been the recipient of several industry awards including Ground Handling Award 2013,[10] Air Cargo Handling Agent of the Year 2014[11] (for the sixth year in succession) and Global Aviation Ground Services Company 2012 (for the twelfth year in succession).[12]

On 31 July 2015, China's HNA Group, the parent company of Hainan Airlines, announced that it would purchase Swissport for $2.81 billion US.[13]

On 7 March 2018, Swissport concluded the acquisition of Aerocare and its subsidiaries Skycare, Carbridge and EasyCart from Archer Capital and the Aerocare management.[14] Swissport now holds 100% of Aerocare, an Aviation Services and Airport Infrastructure Services provider in Australia and New Zealand.

On 8 June 2020, Swissport's Belgian subsidiary declared bankruptcy, which was confirmed by the Belgian commercial courts the following day.[15]

On 25 June 2020, Swissport UK & Ireland announced a 50% reduction in its workforce of 8,500.[16]

In December 2020, Swissport had completed its comprehensive financial restructuring that began in August 2020. Ownership of the company has been transferred from the HNA Group to a group of financial investors led by the former senior secured lenders of Swissport.[17] Their total existing debt was reduced by about 1.9 billion euros.[18]

Notes and References

  1. . Swissport 2018 Company Profile . Swissport International AG . 2023-09-15.
  2. . Swissport 2023 General Fact Sheet . Swissport International AG . 2023-08-01 . 2023-09-15.
  3. Web site: AG . Swissport International . Swissport International AG - Network . 2023-09-15 . www.swissport.com.
  4. Web site: AG . Swissport International . Our Services . 2023-11-21 . www.swissport.com . en-GB.
  5. Encyclopedia: Ingram . Frederick C. . Grant . Tina . International Directory of Company Histories . Swissport International Ltd. . 2005 . St. James Press . 70 . Detroit . 1-55862-545-3 . 367891286 . 310-312.
  6. Web site: Goodley . Simon . Candover buys Swissair arm . 9 February 2002 . 22 August 2014 . Telegraph Media Group . 25 September 2015 . https://web.archive.org/web/20150925004142/http://www.telegraph.co.uk/finance/2752567/Candover-buys-Swissair-arm.html . live.
  7. Web site: Smyth . Sharon . Ferrovial to Sell Swissport to PAI Partners for $909 Million . subscription. 2 November 2010 . 22 August 2014 . Bloomberg.
  8. Web site: Allett . Tom . Swissport to Acquire Servisair . 2 August 2013 . Key Publishing . 22 August 2014 . https://web.archive.org/web/20141020122652/http://www.airportsinternational.com/2013/08/swissport-to-acquire-servisair/14496 . 20 October 2014 . live.
  9. . 18 December 2013 . Mergers: Commission approves acquisition of ground handling service provider Servisair by Swissport, subject to conditions . live . Brussels . European Union . European Commission . https://web.archive.org/web/20210225004614/https://ec.europa.eu/commission/presscorner/detail/en/IP_13_1290 . 25 February 2021 . 3 November 2023.
  10. Web site: Swissport International Ltd. - News & Media Center . 2021-06-26 . Swissport . https://web.archive.org/web/20210626042141/https://www.swissport.com/nc/news-media-center/news-detail/article/swissport-wins-ground-handling-award-at-the-prestigious-cargo-airline-of-the-year-awards-2013/ . 26 June 2021.
  11. Web site: . Swissport Wins Its Sixth Straight 'Cargo Agent Of The Year' Award . 24 June 2014 . 3 November 2023 . Aviation Pros . https://web.archive.org/web/20231103154938/https://www.aviationpros.com/ground-handling/ground-handlers-service-providers/press-release/11533375/swissport-international-ltd-swissport-wins-its-sixth-straight-cargo-agent-of-the-year-award . 3 November 2023 . live.
  12. Web site: . Corporate Profile . . 22 August 2014 . Swissport . https://web.archive.org/web/20140822105714/http://www.swissport.com/corporate/corporate-profile/ . 22 August 2014.
  13. News: Bray . Chad . PAI Partners to Sell Swissport International for $2.8 Billion . July 31, 2015 . The New York Times . 1 August 2015 . https://web.archive.org/web/20151004204743/http://www.nytimes.com/2015/07/31/business/dealbook/pai-partners-to-sell-swissport-international-for-2-8-billion.html . 4 October 2015 . live.
  14. Web site: 2018-01-31 . Swissport secures €325m financing commitment for Aerocare acquisition . 2021-01-19 . Air Cargo News . https://web.archive.org/web/20221210084519/https://www.aircargonews.net/services/ground-handler/swissport-secures-EUR325m-financing-commitment-for-aerocare-acquisition/ . 2022-12-10 . live.
  15. News: Swissport Belgique déclarée en faillite par le tribunal de commerce de Bruxelles . 9 June 2020 . . 9 June 2020 . fr . https://web.archive.org/web/20230127090323/https://www.rtbf.be/article/swissport-belgique-declaree-en-faillite-par-le-tribunal-de-commerce-de-bruxelles-10518453 . 27 January 2023 . live.
  16. News: Swissport to cut 8,500 workforce by 50% . 27 June 2020 . Global Cargo News . 27 June 2020.
  17. Web site: Swissport completes financial restructuring / ownership transfer to group of new shareholders . 2020-12-22 . 2021-01-21 . https://web.archive.org/web/20210130170652/https://swissport.com.au/2020/12/22/swissport-completes-financial-restructuring-ownership-transfer-group-new-shareholders/ . 2021-01-30.
  18. Web site: Swissport Completes Financial Restructuring . 2021-01-19 . Aviation Pros.

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