Swissport to acquire majority stake in AFS Aviation Fuel Services
AFS is the largest provider of into-plane-fuelling services in Germany with operations at 10 German as well as 2 Austrian airports
Swissport International, the world’s leading provider of ground and cargo handling services, has signed an agreement with Air BP regarding the acquisition of Air BP’s share in AFS Aviation Fuel Services GmbH (AFS). This means that Swissport is taking over Air BP’s 50% stake in AFC (the holding company of AFS) and its 33.3% direct stake in AFS, as well as all AFC and AFS subsidiaries/associates.
The acquisition is subject to approval by German and Austrian competition authorities. Upon competition clearance Swissport will own a majority stake of 66.6% (through direct and indirect shareholding) of AFS and assume operational and financial control of the business in close cooperation with the co-shareholder DLH Fuel Company mbH, a 100% subsidiary of Deutsche Lufthansa AG.
AFS Aviation Fuel Services GmbH has been specialising in aircraft refuelling services and is an airport tank farm and into-plane-fuelling operator since 1986. AFS is active at 10 German as well as 2 Austrian airports either through own branches or as operator on behalf of oil consortiums/joint ventures. AFS has a strong position at all the stations it operates and comprises about 440 employees and 150 fuel vehicles.
Swissport has acquired the entire stake of Air BP, which includes the 50% stake in the holding company AFC and the 33.3% direct stake in AFS, as well as all subsidiaries/associates of AFS and AFC. Upon merger clearance Swissport will be the majority owner (66.6%, through direct and indirect shareholding) and will manage the business in close cooperation with the co-shareholder Lufthansa (33.3%, through its 100% subsidiary DLH Fuel Company mbH) going forward.
AFS’s track record in terms of safety performance, industry expertise, managerial know-how and service quality combined with the global network and customer base of Swissport and co-shareholder Lufthansa, make the joint venture company perfectly equipped to strengthen its offering in fuelling services and to capitalise upon future opportunities to the benefit of its customers.
Philipp Joeinig, Executive Vice President Europe West, Central & East at Swissport International: “The acquisition of the majority stake in AFS gives us the ideal platform to further expand our into-plane-fuelling services and to capitalise from the ongoing liberalisation of the European into-plane-fuelling market. Strengthening our position in this market allows us to provide a broader service portfolio to our customers and to further live up to our promise of being a one-stop-shop.”
Swissport International Ltd. provides ground services for around 224 million passengers and handles 4.1 million tonnes of cargo a year on behalf of some 700 client-companies in the aviation sector. With a workforce of around 60,000 personnel, Swissport is active at more than 270 stations in 48 countries across five continents, and generates consolidated operating revenue of CHF 3.0 billion.
source: oevz.com