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Swissport-sale definitely completed (Swissair Group - statement)

Swissair Group sells Swissport to Candover for CHF 580 million

Zürich Airport, February 8, 2002 – The Swissair Group has sold its Swissport ground handling group to Candover, the UK-based investment company, for a total purchase price of CHF 580 million.


Swissport currently serves over 550 airlines at 130 airports in 23 countries, and is the global number two in the ground handling sector. The group employs some 13 000 personnel worldwide. Candover will continue to operate Swissport with its present management team, which is headed by CEO Joseph In-Albon.


"I am delighted to see this agreement concluded,” says Mario A. Corti, Chairman & CEO of the Swissair Group. "We announced the sale of Swissport back on August 30 last year. But the transaction was severely delayed by the tragic events of September 11 and their repercussions. I wish Swissport and its new owners every business success.”


"Our partnership with Candover is a major step in our overall strategy for further developing our operations,” adds Swissport CEO In-Albon, who has led the group since 1997. "We will continue to pursue our aggressive growth strategy; but we will, of course, remain fully committed to providing the kind of excellent service for our customers that has always marked us out from our competitors. And all our people will continue to work towards our shared objective of consolidating our leading position in the ground handling sector.”


For further information please contact:

 

Candover (GCI Switzerland)
Christine Schindler +41 1 485 4408
Esther Syfrig +41 1 485 4405

Swissport
Stephan Beerli +41 1 812 4950
+41 79 638 9939

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