Swissport to acquire UK ground handler ASC
LHR handles over 60% of UK air cargo
Swissport has signed binding agreements to acquire ASC, a provider of ground handling and cargo services at London Heathrow and Gatwick airports.
The acquisition would enhance Swissport’s ground operations and grant it additional cargo capacity at two warehouses at London Heathrow (LHR), a gateway for more than 60% of the U.K.’s air cargo, according to a release this week from Swissport. London Gatwick (LGW) is the U.K.’s second busiest passenger airport, behind LHR.
Neither company disclosed the terms of the acquisition deal. The transaction remains subject to customary closing conditions.
Swissport announced this month that it will invest more than 1.5 billion euros ($1.8 billion) during the next five years to hasten its decarbonization efforts, including through electric ground support equipment (GSE) and renewable energy initiatives. The ground handler aims to reach 55% electric GSE by 2032, up from 25% today.
Editor’s note: All amounts have been converted to U.S. dollars.
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