Swissport International has signed a binding agreement with Saudi Arabia-based Asyad, agreeing the sale of a 49% stake to Asyad.
Swissport currently provides passenger services and ramp handling at five airports in the region, having been present in Saudi Arabia since 2016 when it started its operations in Riyadh and Jeddah. It hopes its partnership with the family-owned Saudi holding group will ‘jointly drive the development and growth of the aviation ground services sector in Saudi Arabia towards achieving vision 2030’.
“Even amidst existential challenges during the Covid-19 pandemic, Swissport stood firm and continued to build a robust and successful business in the region,” explained Warwick Brady, president and CEO of Swissport International. “We expect that the collaboration with a strong national partner will accelerate our growth in this fast-growing market,” he concluded.
In 2022, Swissport in Saudi Arabia served 5.14 million passengers and handled 19,900 aircraft.