Mike King, Special Correspondent | Jun 20, 2012 11:26AM EDT
Shareholders of Worldwide Flight Services and Aviapartner agreed to combine the two companies.
If approved by relevant competition authorities, the new group will be headquartered in Paris and controlled by LBO France, Worldwide Flight Services’ majority shareholder. Aviapartner’s shareholders, including 3i, will be represented on the board of WFS.
WFS generates two-thirds of its annual revenue through its global cargo handling network; Aviapartner’s primary freight operations are in Belgium, the Netherlands and Germany.
Both brands will be retained and developed, but global cargo handling activities and passenger handling activities outside Europe will be run under the WFS brand name. The Aviapartner brand will be used for the development of passenger handling services in Europe.
“With nearly one billion euros of annual revenue, the new entity will become the European leader and global #2 in ground handling services,” the companies said in a joint statement.
Earlier this month, WFS announced a new air cargo handling operation at Stockholm Arlanda Airport.
Contact Mike King at michael@borderline.eu.com.
