Swissport Deutschland GmbH is to sell its 49% shareholding in its S. Stuttgart Ground Services joint venture to…
Swissport Deutschland GmbH is to sell its 49% shareholding in its S. Stuttgart Ground Services joint venture to AHS. The sale, which is being effected in amicable agreement with Stuttgart Airport, will enter into operational effect on October 1st, 2005.
Swissport`s successful S. Stuttgart Ground Services joint venture is being terminated for strategic reasons: the Swissport Group intends to focus its future business activities on its majority-owned operations. The joint venture dates back to 2001, when it was established by Swissport Stuttgart GmbH and Flughafen Stuttgart GmbH. The collaboration extends to passenger handling, operations and ticketing. No details have been given of the sale price involved.
Klaus Knopfle, CEO of S. Stuttgart Ground Services, will remain at the head of the company following the sale of Swissport`s 49% holding to AHS. All current customer contracts will also remain unchanged and will continue to be honoured in full; and no redundancies or major organisational changes are planned as a result of the change of ownership. The transaction will also have no impact on Swissport Cargo Services GmbH, which is led by John Baize and will continue to pursue its extremely successful airfreight handling business.
Swissport International and Swissport Germany remain fundamentally committed to Swissport`s expansion plans. As numerous new customer agreements show (with clients such as easyJet, CSA, Aer Lingus, Air France, Air Lithuania, Ukraine International, Transavia Airlines, Malev, Iberworld, Luxair, Inter Airlines, SkyEurope and Corendon.com), Swissport`s eight German stations continue to play a vital role in the company`s European operating network.
At the same time, however, Swissport is keen to ensure a more active and more unified global management of its various products and processes. And this is more difficult to achieve swiftly and directly with minority-owned operations.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
