Asyad to acquire 49% stake in Swissport

Swissport International has signed a binding agreement with Saudi Arabia-based Asyad, agreeing the sale of a 49% stake to Asyad. Swissport currently provides passenger services and ramp handling at five airports in the region, having been present in Saudi Arabia since 2016 when it started its operations in Riyadh and Jeddah. It hopes its partnership with the family-owned Saudi holding group will ‘jointly drive the development and growth of the aviation ground services sector in Saudi Arabia towards achieving vision 2030’. “Even amidst existential challenges during the Covid-19 pandemic, Swissport stood firm and continued to build a robust and successful