Swissport

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.

Swissport International Ltd.
IndustryAviation
Founded1996 (1996)
HeadquartersOpfikon, canton of Zürich, Switzerland
Number of locations
296 airports
Area served
Worldwide
Key people
Warwick Brady (President and CEO)
ServicesGround handling
Cargo services
Executive aviation
Aircraft maintenance
Aviation security
Travel services
Aircraft cleaning
Revenue€2.99 billion (2018)[1]
OwnerInternational group of investors
Number of employees
Around 57,000
Websitehttps://swissport.com

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]

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.[4] 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.[5] 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.[6]

In August 2013, Swissport announced the acquisition of competitor Servisair[7] 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.[8]

Over the years, Swissport has been the recipient of several industry awards including Ground Handling Award 2013,[9] Air Cargo Handling Agent of the Year 2014[10] (for the sixth year in succession) and Global Aviation Ground Services Company 2012 (for the twelfth year in succession).[11]

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.[12] “The acquisition by HNA will enable the company to grow in the interpenetrated Asian markets and in China, in particular, thanks to HNA’s strong roots in the region,” Ricardo de Serdio, a partner at PAI Partners, said in a news release.

On 7 March 2018 Swissport concluded the acquisition of Aerocare and its subsidiaries Skycare, Carbridge and EasyCart from Archer Capital and the Aerocare management.[13] Swissport now holds 100% of Aerocare, an Aviation Services and Airport Infrastructure Services provider in Australia/New Zealand.

On 8 June 2020 Swissport's Belgian subsidiary declared bankruptcy, which was confirmed by the Belgian commercial courts the following day.[14]

On 25 June 2020 Swissport UK & Ireland announced a 50% reduction in its workforce of 8,500.[15]

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.[16] Their total existing debt was reduced by about 1.9 billion euros.[17]

References
  1. "Swissport 2018 Company Profile" (Press release). Swissport International AG. Retrieved 2023-09-15.
  2. "Swissport 2023 General Fact Sheet" (Press release). Swissport International AG. 2023-08-01. Retrieved 2023-09-15.
  3. AG, Swissport International. "Swissport International AG - Network". www.swissport.com. Retrieved 2023-09-15.
  4. "History of Swissport International Ltd." Funding Universe. 2005. Retrieved on 22 August 2014.
  5. "Candover buys Swissair arm" The Telegraph. 02 February 2002. Retrieved on 22 August 2014.
  6. "Ferrovial to Sell Swissport to PAI Partners for $909 Million" Bloomberg. 02 November 2010. Retrieved on 22 August 2014.
  7. "Swissport to Acquire Servisair" Airports International. 02 August 2013. Retrieved on 22 August 2014.
  8. "Commission approves the acquisition of ground handling service provider Servisair by Swissport, subject to conditions" europa.eu. 18 December 2013. Retrieved on 22 August 2014.
  9. "Swissport International Ltd. - News & Media Center". www.swissport.com. Retrieved 2021-06-26.
  10. "Swissport International Ltd. - News & Media Center". www.swissport.com. Retrieved 2021-06-26.
  11. "The Swissport Profile" Swissport. Retrieved on 22 August 2014.
  12. "PAI Partners to Sell Swissport International for $2.8 Billion". New York Times. July 31, 2015. Retrieved 1 August 2015.
  13. "Swissport secures €325m financing commitment for Aerocare acquisition". Air Cargo News. 2018-01-31. Retrieved 2021-01-19.
  14. "Swissport Belgique déclarée en faillite par le tribunal de commerce de Bruxelles". RTBF. June 9, 2020. Retrieved 9 June 2020.
  15. "Swissport to cut 8,500 workforce by 50%". Global Cargo News. 27 June 2020. Retrieved 27 June 2020.
  16. "Swissport completes financial restructuring / ownership transfer to group of new shareholders". 2020-12-22. Retrieved 2021-01-21.
  17. "StackPath". www.aviationpros.com. Retrieved 2021-01-19.
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