Sale of Swiss ground handler concluded

Ferrovial’s sale of ground services operator Swissport to French-based private equity firm PAI Partners was formally concluded at the weekend.


PAI Partners will now further pursue Swissport’s successful global business model with the current Swissport Group executive management led by president and CEO Per H. Utnegaard.


“The general economic situation and the health of the airline sector improved in 2010, and this should allow Swissport International to outperform the market in 2011,” said Utnegaard.


PAI partners will strive to maintain Swissport’s world-leading position in the aviation ground handling sector and achieve profitable and sustainable growth, the company said in a statement.


PAI Partners and Swissport International were also able to announce a few days ago the closing of a secured bond financing through an offering by an affiliate of PAI partners to a wide international investor base.
(Source:http://www.cargonewsasia.com)