Swissport and Asyad Holding join forces
Swissport International and Asyad have signed binding transaction agreements for the sale of a 49% stake in Swissport Saudi Arabia to Asyad.
The signatories are embarking on a strategic partnership to jointly drive the development and growth of the aviation ground services sector in Saudi Arabia towards achieving its vision for 2030.
Asyad is a diversified, family-owned Saudi holding group with significant business activities in and outside Saudi Arabia in multiple sectors including aviation and infrastructure.
The new strategic partnership underlines Swissport's commitment to Saudi Arabia and is aimed at further accelerating the company’s growth in the largest economy in the Middle East. (cj)