Aviation services giant Swissport has agreed to acquire the remaining 50 per cent stake in Heathrow Cargo Handling (HCH) it does not already own
The deal means Swissport will then fully own the cargo handling company, which was established as a joint venture and has been providing services to airlines at the airport since 1995.
"We are very satisfied that we can strategically round off our global cargo business with this selective acquisition," said Luzius Wirth, Swissport executive vice president for Europe, Middle East & Africa.
"On the basis of over 20 years of successful business, jointly with Air France, Swissport now has the right setup to further develop and enhance its service offering at London's Heathrow airport."
The HCH acquisition enables Swissport to invest further in its air cargo operation and service capabilities at Heathrow airport, where it operates two warehouses with a total surface of 165,000 sq ft.
Last year, the HCH joint venture, with a workforce of 120 employees, handled more than 150,000 tons of air cargo.
The completion of the share acquisition is subject to Competition and Markets Authority approval and is expected in the first half of 2019