Swissport International will acquire a 10 percent stake in each of Scandinavian Airlines Systems’ three ground-handling companies on Nov. 1.
The deal, for which no financial details were released, is the result of a letter of intent signed earlier this year dealing with Swissport’s complete takeover of all SAS’ ground-handling services in Scandinavia. These continued talks are now on hold while Swissport finishes its acquisition of Servisair.
“The agreement we announce today marks Swissport’s entry into the Scandinavian market,” Swissport’s group president and chief executive officer, Per H. Utnegaard, said in a statement, “and we are excited about establishing our presence here with SAS and several other clients.”
Swissport enters Scandinavian market
