Swissport receives a further USD 100 million (approximately EUR 83 million) repayment on its affiliate loan to HNA Group and agrees to a temporary remedies standstill period. Swissport will use funds from the repayment to prepay a portion of its own, existing term-loans, reducing its net debt position and significantly improving its leverage ratio.
Continued growth at Switzerland`s most advanced cargo warehouse at Basel EuroAirport – Planned expansion of cargo capacities also in Frankfurt
Swissport International Ltd. signed a long-term lease agreement with airport operator Fraport AG for a new air cargo warehouse at Frankfurt Airport’s CargoCity South. At around 16.000 square metres of surface the new cargo facility will be the third largest in Swissport’s global network of 133 air cargo warehouses. Construction is due to start in 2019, with the facility handed over to Swissport in 2020.