Recent News Releases
Swissport launches its own quality label for warehouses, which meet the company’s high standards for the storage and handling of temperature-sensitive pharmaceutical goods. Initially, 14 facilities will be labelled Swissport Pharma Centers. All of them are certified by the IATA CEIV Pharma or by the British MHRA, making them benchmark operations in the Swissport network. Further facilities will be validated and may be brought under the label.
Swissport has agreed to a comprehensive restructuring with creditors and shareholders including a debt-for-equity swap and a new 500 million euros long-term debt facility. The restructuring will deliver a significant deleveraging for the company. Swissport has also finalized the 300 million euros additional interim facility.
A group of senior secured creditors has committed to provide 300 million euros of interim liquidity to support operations through the completion of the restructuring. The agreement ‘in principle’ on a comprehensive restructuring includes significant deleveraging and a new 500 million euros long term debt facility, which will replace the interim facility.
Swissport and Qatar Airways Cargo have renewed a contract covering airport ground services and air cargo handling at Amsterdam’s Schiphol airport and signed new 5-year contracts for cargo handling at the airports in Manchester and Birmingham in the UK.
Swissport North America Inc. and the U.S. Department of the Treasury have signed an agreement under the U.S. Coronavirus Aid, Relief, and Economic Security (CARES) Act. The agreement provides Swissport with approximately 170 million US dollars of additional funds for payroll support during the disruption that the COVID-19 pandemic has caused in the aviation industry. Swissport also recently completed a UK Scheme of Arrangement and Consent Solicitation which creates the ability to raise significant additional liquidity.
Swissport Belgium SA/NV, a subsidiary of Swissport International AG, which has been providing ground services at Brussels airport, will file for bankruptcy alongside Swissport Belgium Cleaning SA/NV after all attempts to turn around the notoriously loss-making unit failed. The group’s cargo business in Brussels and Liège is not affected.
The United Nations’ World Health Organisation (WHO) and the World Food Programme (WFP) have chosen Liège Airport in Belgium and Accra Airport in Ghana as logistics hubs for moving medical supplies across the world in the fight against COVID-19. Swissport plays a key role as a cargo handler at both UN hubs in Liège and Accra.
Swissport achieved an operating EBITDA of 272.3 million euros in 2019, roughly on par with the previous year result of 273.2 million euros. The group’s revenue from operating activities increased to 3.13 billion euros, up 4.7 percent from 2.99 billion euros in 2018.