China’s HNA close to buying Swissport, says Bloomberg

China’s HNA Group Co is in talks to acquire airport handler Swissport International, according to the Bloomberg news agency, citing “people familiar with the matter”.
Swissport’s private-equity owner PAI Partners SAS is seeking about $3bn from a sale, claimed Bloomberg, adding: “Negotiations could still fall apart, as the two parties have struggled to agree on price in the past several months.”
It would be the fifth-biggest acquisition in Europe by a Chinese company,
The news agency said that, alongside a sale, PAI is also exploring an initial public offering with banks, as well as potential takeover interest from other parties. 
HNA, based in southern China, is the owner of China’s fourth-largest airline, Hainan Airlines. PAI agreed to acquire Zurich-based Swissport, which provides ground handling and cargo services to about 700 aviation customers, for more than $900m in 2010.

Share this story

Related Topics

Latest asia news

IBS Software appoints new CEO

Aviation software firm IBS Software has appointed Somit Goyal as its new chief executive to succeed Anand Krishnan. Goyal has…

Read More

Share this story

SF Airlines launches Ezhou-Budapest air cargo route

SF Airlines has launched an air cargo route linking Ezhou Huahu Airport in central China’s Hubei Province with Budapest International…

Read More

Share this story

Worsening containership market keeps the pressure on air cargo

The recent deterioration in the ocean shipping market could be pushing more cargo to airfreight following the impact of the…

Read More

Share this story

Air Cargo News

Air Cargo News
Established in 1983, Air Cargo News is the leading source of news, information, interviews, analyses and reports to the global airfreight industry. Our leading portfolio includes print, digital and events that give businesses in the airfreight industry the ability to connect with decision-makers in this sector.