dnata to Take Control of Milan’s Airport Handling SPA
Tuesday, 29 September 2015
Airport Handling SPA, started operations in September 2014, operates passenger, and cargo handling services at Milan’s two major airports, Malpensa and Linate
DUBAI – dnata, the fully owned Emirates Group's ground handling, cargo, travel and catering services subsidiary has reached an agreement to acquire a 30 percent share in Milan-based ground handler, Airport Handling SPA. dnata will have majority representation on the board and exercise day-to-day control of operations.
dnata will also have an option to acquire a further 40 percent share at an predetermine undisclosed price “call option” of the in Milan-based ground handler.
Airport Handling SPA, started operations in 2014, currently has 1,800 employees, operates passenger, ramp, baggage and cargo handling services at Milan’s two major airports, Malpensa (MXP) and Linate (LIN) for over 60 airlines.
Under the agreement with dnata, Airport Handling will retain its current name. Employee employment terms will be unaffected. This transaction is subject to competition approval by Italian authorities and the European Union. This is anticipated by the end of November 2015.
Stewart Angus, dnata’s divisional senior vice president of international airport operations said: “We continue to grow dnata’s international operations where we find the right opportunities and the right partners.
“Any acquisition or partnership that we enter has to add value to our business, customers and stakeholders. Airport Handling’s operations tick those boxes for dnata.”
John Stewart, chief executive office of Airport Handling, added: “dnata is an established international player in airport and ground handling services.
“Tapping on dnata’s expertise, the Airport Handling team looks forward to further strengthen the quality of services that we already offer in Milan’s airports and our prospects for both short and long term."
Tiziano Treu, chairman of the trustee, Crowe Horwath Trustee Services It (the auditing firm handling the transaction), commented: “the value of the transaction confirms the current equity value of Airport Handling."
During the past five years, dnata has expanded its international operations with number of partnerships and acquisitions. In Europe, dnata has investments at over 40 airports in Italy, the UK, Ireland, Switzerland, the Netherlands, Bulgaria, Romania, and the Czech Republic - covering passenger and ground handling, cargo facilities and catering operations; in addition to the catering facilities at 22 airports.
Established in 1959, dnata’s operations covers 78 airports across the Middle East, Europe, Asia Pacific, Africa and North America. Offering ground handling, cargo, travel, and flight catering services, has over 380 airline customers globally.