Fraport and WFS complete strategic partnership for cargo handling at Frankfurt Airport

Fraport AG and WFS completed the transaction for a strategic partnership in the area of airfreight handling at Frankfurt Airport.

Fraport AG and WFS completed the transaction for a strategic partnership in the area of airfreight handling at Frankfurt Airport. Under the agreement signed in July 2015, Fraport has sold a 51-percent share in its Frankfurt-based Fraport Cargo Services GmbH (FCS) subsidiary to WFS, the worldโ€™s largest independent air cargo handler.

Fraport AG Executive Board Chairman Dr. Stefan Schulte said: โ€œWe are launching a new chapter in cargo handling at Frankfurt with a very strong and competent global partner. We look forward to our future cooperation with WFS, a win-win partnership for our companies as well as our customers.โ€

Michael Mรผller, Fraport AGโ€™s executive board member and executive director of labor relations added: โ€œThe goal of our strategic partnership is to expand FCSโ€™ global reach in the rapidly moving and highly competitive air cargo industry, to achieve sustainable success, and to strengthen Frankfurtโ€™s role as Europeโ€™s leading air cargo airport in the international logistics chain.โ€

Olivier Bijaoui, WFSโ€™ executive chairman, president & CEO, stated: โ€œThe closing of this major transaction is a milestone for WFS. Synergizing our combined strengths and expertise, we will further position the joint FCS company as the biggest cargo handler at one of the worldโ€™s most important cargo hubs. This collaboration will build upon FCSโ€™ decades of successful operations in the dynamic air cargo handling market.โ€

FCS is the largest airline-independent cargo-handling provider at FRA and offers a full range of services for the complete physical and documentation handling requirements of airfreight shipments worldwide. With its team of more than 660 trained specialists, FCS handles about 500,000 metric tons of airfreight per year and counts some 40 airlines among its customers.

With annual revenues of โ‚ฌ750 million, WFS is the worldโ€™s largest air cargo handler and a leading global provider of ground handling and technical services. Founded in 1971, WFS employs about 14,000 staff and is present at over 145 major airports in more than 22 countries on five continents. The company serves 50 million passengers and handles over four million metric tons of cargo per year for 300 airline customers.

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Linda Hohnholz

Editor in chief for eTurboNews based in the eTN HQ.

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