Swissport extends the temporary remedies standstill regarding the collection of the unpaid balance of its Affiliate Loan to HNA Group while HNA concludes its assessment of strategic options for Swissport. The remedies standstill was originally agreed in May 2018.
Swissport International AG, the global leader of airport ground services and cargo handling for the aviation industry, is counting on further growth in Germany. The acquisition of cargo handler Apron GmbH makes Stuttgart the second largest cargo hub of Swissport in Germany, only topped by the Swiss company’s Frankfurt facility.
In the first half of 2018, Swissport International AG served 132 million passengers on behalf of its airline clients (up 10.0% on the first half of 2017). Cargo volumes increased to 2.3 million tons (up 5.0%). Revenue for the first six months climbed to EUR 1.43 billion (up 4.1%). EBITDA reached EUR 116.3 million (up 35.5%).
Swissport has been appointed ground handler for Air New Zealand in Melbourne, Sydney, Brisbane and Perth, following a competitive tender focused on safety, service and operational performance.
HNA Group and Eric Born announced today that they have agreed to extend Eric Born’s contract as President and CEO of Swissport International AG to December 31, 2019.
Process integration of Aerocare into the Swissport network is in full swing. The global leader in Airport Ground Services and Air Cargo Handling kicks off the re-branding of its operation in Australia and New Zealand at Sydney Airport. The conversion of all locations and all Aerocare Ground Service Equipment is planned to be completed by the end of 2018.
Eric Born has informed the board of directors of his decision to step down as the Group President & CEO of Swissport International AG at the end of December 2018. Mr. Born has been serving as the President & CEO of the world leader in ground and air cargo handling since August 2015. During his tenure, Swissport further extended its global leadership and saw its profitability strengthened.
Swissport International AG, the global leader in airport ground services and air cargo handling, signs letters of intent with two start-up companies “Winding Tree” and “Olam” to explore potential of blockchain technology.
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