Swissport will acquire Heathrow Cargo Handling from Air France, which it held in a joint venture, subject to regulatory approval.
The ground service provider will acquire the remaining 50% stake to fully own the handling company, which has provided cargo handling services at London’s Heathrow Airport since 1995.
The completion of the sale is subject to Competition and Markets Authority approval and is expected in the first half of 2019.
The acquisition will enable Swissport to invest in its air cargo operations and services at Heathrow, where it operates two warehouses with a total surface of 15,300 square metres.
Last year, the joint venture had a workforce of 120 employees and handled over 150,000 tonnes of cargo, up 7% on 2017.
Luzius Wirth, executive vice president Europe, Middle East and Africa for Swissport says: “We are very satisfied that we can strategically round off our global cargo business with this selective acquisition. On the basis of over 20 years of successful business, jointly with Air France, Swissport now has the right setup to further develop and enhance its service offering at London‘s Heathrow airport.”