Transaction will increase dnata's total interest in Airport Handling to 70% from 30%
Dubai-based dnata, one of the world’s largest air services providers, has exercised its option to acquire an additional 40 percent share in Airport Handling.
The transaction will increase dnata’s total interest in the Milan-based ground handler to 70 percent, a statement said.
With majority representation on the board, dnata has already been managing the day-to-day operations of the company since its original investment in 2016, it added.
Airport Handling, which was founded in 2014, provides a variety of passenger, ramp and baggage services to over 60 airlines at Milan’s two airports, Malpensa and Linate.
Stewart Angus, divisional senior vice president for dnata International Airport Operations & Associated Companies, said: “Following more than two years of successful cooperation and the consistent delivery of excellent service standards to our customers, we are delighted to announce further investment in Airport Handling.
"We are confident that dnata and our stakeholders will benefit from this strategic acquisition, which underscores our broader vision and commitment to the Italian market. We will work hard to continue offering outstanding quality service to our customers, while seeking further growth opportunities in the country.”
Over the past seven years, dnata has steadily expanded its international airport operations with a series of partnerships and acquisitions.
The company now provides over 300 airline customers with ground handling, cargo and catering services at 130 airports across six continents.For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.