English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

WFS acquires Fraport Cargo Services

PRESS RELEASE

July 8, 2015: Worldwide Flight Services (WFS) is to acquire a 51% shareholding in Fraport Cargo Services (FCS) as part of a strategic partnership with Fraport AG.

The investment is part of WFS' strategy to continue to expand in Europe's major cargo markets.

Fraport is to retain a 49% share in FCS and will continue to take a substantial role in the management of the company. Terms of the transaction, which WFS and Fraport plan to close by September 2015, have not been disclosed.

For over 40 years, Fraport Cargo Services has been the largest provider of independent cargo handling services at Frankfurt Airport, Europe's joint largest cargo airport alongside Paris CDG.

Fraport cargo city southIn 2014, cargo and mail traffic through Frankfurt rose 1.8% to some 2.1 million tonnes. FCS employs more than 600 cargo handling professionals at its modern freight centres in the airport's CargoCity South and provides services to most of the world's leading air carriers.

Olivier Bijaoui, Executive Chairman, President & CEO of WFS, said: "This is a major transaction that positions WFS and FCS as the leading cargo handler at one of the biggest cargo airports in the world. As Europe's largest economy, Germany is obviously a prime focus in our growth plans. We could not ask for a stronger partner than Fraport, with whom we share a passion for quality and performance and likewise who have demonstrated a commitment to the cargo handling industry over more than 40 years."

Fraport AG executive board chairman Dr. Stefan Schulte said: "As in the past, the cargo business continues to be vitally important for our business model. To continue developing our cargo handling business successfully, it has been our wish to find a strong and competent partner that offers a strong international network. Thus, we are pleased today to announce this new strategic partnership with such a renowned international partner like WFS, to gain an even broader globally-linked base for successfully developing FCS further in the future."

In May, WFS announced plans to accelerate its growth by exploring more business opportunities and implementing its acquisition strategy. And, in June, WFS confirmed the biggest expansion of its ground handling activities in Europe in over 40 years after being awarded full ground handling licenses to operate at Spain's Madrid, Seville, Santiago, Oviedo and Vitoria airports.

Founded in 1971, WFS is the world's largest cargo handler and a leading global provider of ground handling and technical services with annual revenues of €700 million. It employs 14,000 staff and is present at over 145 major airports in more than 22 countries on five continents, serving 50 million passengers and handling over four million tonnes of cargo per annum for 300 airline customers.

More News

Written on 24/05/2017, 21:40
edelweiss-supported-by-swiss-worldcargoZURICH: May 24, 2017. Edelweiss, the leisure travel subsidiary of Swiss International Air Lines (SWISS), has acquired a second A340-300 from its parent to...
Written on 24/05/2017, 19:10
agility-settles-criminal-case-with-u-s-governmentKUWAIT CITY: May 24, 2017. Agility is to pay a US$551.00 to settle a criminal case relating to its U.S. government food-supply contracts between 2003 and...
Written on 24/05/2017, 17:10
ek-gives-vietnam-a-liftDUBAI: May 23, 2017. Emirates SkyCargo says there's been a "near five-fold" increase in fruit exports from Vietnam to Dubai in the past year. Vietnam's...
Written on 23/05/2017, 22:42
new-box-service-links-the-americasMARSEILLE: May 23, 2017. CMA CGM has launched a weekly 'AZTECA' box service in collaboration with Hamburg Süd to link the west coasts of the United...
Written on 23/05/2017, 20:01
freightweek-news-may-22-26-2017AKAGERA, Rwanda: May 25, 2017. Ten years after the black rhino disappeared from Rwanda following decades of poaching, 19 animals have now taken up...
Written on 19/05/2017, 22:01
apl-makes-a-profit-for-cma-cgmMARSEILLE: May 19, 2017. CMA CGM has reported a 35.9 percent year-on-year increase in Q1 2017 revenue to US$4.62 billion. The result includes APL figures...
Written on 19/05/2017, 17:41
no-more-need-for-sia-cargoSINGAPORE: May 19, 2017. The Singapore Airlines Group (SIA) has reported a 55.2 percent drop in net profit to S$360.4 million for its 2016/17 financial...
Written on 19/05/2017, 15:01
kalitta-adds-b747-and-b737-freighter-capacityYPSILANTI, MI: May 18, 2017. Air cargo operator Kalitta Air has taken delivery of the first of two leased 747-400F factory-built freighters from GE...
Written on 18/05/2017, 20:24
air-cargo-boom-for-garudaJAKARTA: May 17, 2017. Garuda International has reported a 19.5 percent increase in Q1 2017 cargo revenue to US$56.2 million. Despite a 6.2 percent rise...
Written on 16/05/2017, 15:55
oman-air-signs-sales-agreement-with-globe-air-cargoMUSCAT: May 16, 2017. Following its participation at transport logistic last week, Oman Air Cargo has announced Globe Air Cargo, an ECS Group subsidiary,...
Written on 15/05/2017, 23:20
freightweek-news-may-15-19-2017BIRMINGHAM, UK: May 18, 2017. Emirates SkyCargo has operated a B777 freighter from Birmingham airport in the UK to Chicago as part of a new bespoke...
Written on 15/05/2017, 20:19
saudia-cargo-part-of-record-showcase-at-transport-logisticMUNICH, GERMANY, May 15, 2017: During transport logistic 2017 last week, Saudia Cargo celebrated "Saudi Nights' - an age-old Bedouin tradition "created...
Written on 11/05/2017, 19:09
klm-and-cargonaut-test-smart-data-checkerMUNICH: May 10, 2017. A new smart technology compliance checker developed by Cargonaut to detect data errors in airwaybills is proving successful,...
Written on 11/05/2017, 17:16
maersk-back-on-the-growth-curveCOPENHAGEN: A.P. Møller - Mærsk has reported a Q1 net profit of US$253 million on a five percent increase in year-on-year revenue to US$8.96...
Written on 11/05/2017, 16:21
emirates-group-optimistic-as-profit-fallDUBAI: May 11, 2017. Emirates Group has reported a net profit of US$670 million on revenue of US$25.8 billion for its 2016/2017 fiscal period – a...
Written on 10/05/2017, 19:18
dnata-buys-cold-store-airlogistixDUBAI: May 10, 2017. dnata is to acquire perishables cargo handler AirLogistix USA based at George Bush Intercontinental Airport, Houston. The company's...
Written on 10/05/2017, 17:36
more-flights-capacity-and-hub-services-from-qatar-cargoDOHA: May 10. 2017. Qatar Airways Cargo is to begin a weekly A330 freighter service to London Heathrow on June 03 this year, in addition to its London...
Written on 08/05/2017, 21:38
dhl-opens-stuttgart-rail-centerBONN: May 08, 2017. DHL Global Forwarding has opened a rail competence center in Stuttgart to coordinate its growing rail business between Germany and...
Written on 08/05/2017, 18:57
freightweek-news-from-transport-logistic MUNICH: May 12, 2017. transport logistic reported record attendance this week - over 2,100 exhibitors from 62 countries and 60,000 visitors from...
Written on 05/05/2017, 15:45
atlas-air-off-to-an-exciting-start-in-2017PURCHASE, NY: May 03, 2017. Atlas Air Worldwide Holdings (AAWH) has reported a net loss of US$752,000 on revenue of US$475.4 million for Q1 2017....

- powered by Quickchilli.com -