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.
July 31, 2015
By PLA Editor
Founded in 1971, WFS is the world’s largest cargo handler and a leading global provider of ground handling and technical services with annual revenues of €700 million. It employs 14,000 staff and is present at over 145 major airports in more than 22 countries on five continents, serving 50 million passengers and handling over four million tonnes of cargo per annum for 300 airline customers.
In May, WFS announced plans to accelerate its growth by exploring more business opportunities and implementing its acquisition strategy. And, in June, WFS confirmed the biggest expansion of its ground handling activities in Europe in over 40 years after being awarded full ground handling licenses to operate at Spain’s Madrid, Seville, Santiago, Oviedo and Vitoria airports.