Swissport Sells Its Minority Shareholding in Turkish Ground Handler Havas

Zurich/Istanbul – Swissport International has sold its 40% shareholding in Turkish ground handler Havas to the Turkish-based Ciner Group. The sale is part of a broader streamlining of the Swissport holdings portfolio. For strategic reasons, the world’s number-one aviation ground services group intends to focus in future on subsidiaries in which it holds majority equity stakes.

Swissport’s collaboration with Havas dates back to 1998, and covers the provision of the full range of ground handling services at 13 airports throughout Turkey. No details were given of the sale price involved.

Swissport aims to maintain its current expansion strategy, as has been impressively demonstrated by the opening of new operations in Amsterdam, Singapore, Glasgow, Rome, Milan, Algiers, Khartoum, Rhodes, Corfu, Seoul, Paphos and Larnaca over the past ten months. But, as it continues to globalise its various products and processes, Swissport now aims to exercise more direct and active control of its business units – a policy which is more difficult to pursue with less than a majority share interest.

A consistent presence and appearance, short decision-making channels and swift implementation of strategy are further key elements in Swissport’s current and future business approach. And for these reasons, too, the world’s biggest aviation ground services group now intends to put a stronger focus on its majority-owned subsidiaries.