Swissport International AG has appointed Warwick Brady as president & CEO. He will succeed Christoph Mueller, who has been acting as the interim CEO since 1 January 2021. Christoph Mueller will become chairman of the board of directors once Warwick Brady assumes the CEO role in Spring 2021. Brady is currently the CEO of Esken Limited, formerly Stobart Group, a British infrastructure, aviation and energy company with operations in the UK and Ireland. He has transformed Esken from a … [Read more...] about Warwick Brady lands CEO role at Swissport
Swissport
Swissport nabs Lufthansa Cargo contract at Heathrow
Swissport in the UK has won a major cargo handling contract from the Lufthansa Group for London Heathrow Airport, which will see the company service the German airline group’s cargo at all of its UK destinations. Swissport will provide air cargo handling services at LHR for the Lufthansa Group’s carriers, including SWISS and Austrian Airlines, aside from offering landside trucking services. Also read: Swissport opens freight hub, greets Cathay Pacific Cargo in Frankfurt "We are pleased … [Read more...] about Swissport nabs Lufthansa Cargo contract at Heathrow
Payload Asia’s industry roundup for January
In this roundup, we clear what's left from the inbox and list down global industry updates in air cargo, express, forwarding and logistics as we take a much broader look at what else transpired for the month of January. UPS to sell freight division to TFI International UPS has agreed to sell UPS Freight to Canadian transport and logistics company TFI International for $800 million, which will include its LTL and dedicated truckload business. UPS and TFI International will also enter into an … [Read more...] about Payload Asia’s industry roundup for January
Swissport rolls out own quality label for its pharma facilities
Swissport has launched its own quality label for warehouses, which meet the company’s standards for the storage and handling of temperature-sensitive pharmaceutical goods. Fourteen facilities will initially be labelled under the Swissport Pharma Center name, which will serve as operational benchmarks in Swissport’s network. The company says further facilities will be validated and may be brought under the label. By introducing its own quality label, Swissport plans to leverage its … [Read more...] about Swissport rolls out own quality label for its pharma facilities
Swissport under new owners following €1.9 billion debt-equity swap
Swissport will be under new management following a “lock-up” agreement with senior secured creditors, a press release confirmed. The deal includes a debt-for-equity swap worth €1.9 billion in existing debt, as well as a €500 million long-term debt facility and a €300 million interim facility to help the airport services provider stay afloat. Senior secured creditors, including SVP Global, Apollo Global Management, TowerBrook Capital Partners, Ares Management, Barclays Bank, Cross Ocean … [Read more...] about Swissport under new owners following €1.9 billion debt-equity swap
Swissport nabs €300 million financing, shakes on restructuring deal ‘in principle’
Cargo ground handler Swissport bagged €300 million of committed interim financing from an ad hoc group of senior secured creditors, which will top-up on its current liquidity position of more than €200 million as of 18 August, a press release confirmed. Swissport says this will give them ample headroom to trade and execute operational plans through the Covid-19 pandemic as well as take advantage of growth opportunities post-crisis, strengthening its position in the passenger services and air … [Read more...] about Swissport nabs €300 million financing, shakes on restructuring deal ‘in principle’