WFS takes 51% stake in Fraport Cargo Services

Worldwide Flight Services (WFS) is to acquire a 51 per cent shareholding in Fraport Cargo Services (FCS) as part of a strategic partnership with Fraport AG. The investment is part of WFS’ strategy to continue to expand in Europe’s major cargo markets.


Worldwide Flight Services (WFS) is to acquire a 51 per cent shareholding in Fraport Cargo Services (FCS) as part of a strategic partnership with Fraport AG. The investment is part of WFS’ strategy to continue to expand in Europe’s major cargo markets.

Fraport is to retain a 49 per cent share in FCS and will continue to take a substantial role in the management of the company. Terms of the transaction, which WFS and Fraport plan to close by September 2015, have not been disclosed. The joint goal of this partnership is to expand FCS’ global reach in the rapidly moving and highly competitive air cargo industry to achieve sustainable success, as well as strengthening Frankfurt Airport’s role as a major air cargo hub.

For over 40 years, Fraport Cargo Services has been the largest provider of independent cargo handling services at Frankfurt Airport, Europe’s joint largest cargo airport alongside Paris CDG. In 2014, cargo and mail traffic through Frankfurt rose 1.8 per cent to some 2.1 million tonnes. FCS employs more than 600 cargo handling professionals at its modern freight centres in the airport’s CargoCity South and provides services to most of the world’s leading air carriers.

Olivier Bijaoui, executive chairman, president & CEO of WFS, said: “This is a major transaction that positions WFS and FCS as the leading cargo handler at one of the biggest cargo airports in the world. As Europe’s largest economy, Germany is obviously a prime focus in our growth plans. We could not ask for a stronger partner than Fraport, with whom we share a passion for quality and performance and likewise who have demonstrated a commitment to the cargo handling industry over more than 40 years.”