Chinese conglomerate HNA Group Co Ltd, parent company of Hainan Airlines, said it will acquire Swissport International Ltd in a deal worth about $2.8 billion.
Swissport claims to be the world’s largest ground and air cargo services company.
Current owners of Swissport, European private equity firm PAI Partners has agree to sell and Swissport will remain a spate business unit under HNA Group control.
HNA Group is committed to Swissport’s continuing success in aviation services, said Tan Xiangdong, president of HNA Group.
Swissport has a presence in 48 countries, providing airport ground handling to about 224 million passengers a year.
HNA Group recently bid for Irish aircraft leasing firm Avolon and has shareholdings in several related businesses including Aigle Azur Airlines in France and Spanish hospitality company NH Hotel Group.
