Worldwide Flight Services will become a 100% subsidiary of SATS


(09/29/22)
SATS, one of Asia’s leading aviation services providers, has reached an agreement to acquire Worldwide Flight Services, one of the world’s largest air cargo managers, from a subsidiary of Cerberus Capital Management.

The combination creates a global air cargo hub with a network of stations across Asia, the Americas and Europe.

The transaction is valued at an enterprise value of 2.25 billion euros.

Worldwide Flight Services is set to become a 100% subsidiary of SATS

“WFS has become the world’s leading provider of air cargo logistics through our commitment to customers, our experienced team and our partners at Cerberus,” said Craig Smyth, CEO of WFS. “As we envision our next stage of growth, this combination will provide exciting benefits for our customers and employees. We have great respect for SATS and value similar values. By joining our respective strengths, we can build on our relationships of trust around the world. »

Following the closing of the transaction, WFS will become a wholly owned subsidiary of SATS. The WFS management team will continue to lead the business.

The transaction is subject to customary regulatory and SATS shareholder approvals and is expected to close by March 31, 2023.

Kerry Mok, CEO of SATS, said, “WFS is an industry leader because it has dedicated people and an unwavering commitment to customers. Our proposed acquisition is a transformational opportunity for SATS and will create a global leader and a go-to provider of critical aviation services. In our newly combined markets, SATS and WFS will be at the heart of global trade flows, operating in the world’s busiest airports and supporting the biggest companies.


Securities:

Worldwide Flight Services to become wholly owned subsidiary of SATS China Airlines unveils A321neo Pikachu Jet Virgin Atlantic to join SkyTeam in 2023 Eau Dynamisante Hotel Line Boeing partners with Red 6 to advance fighter pilot training with augmented reality Signs miners Tivoli Resort in Tenerife Boeing delivers 100th 737-800 BCF to AerCap Middle East Airlines improves BEY operations with cloud-based technology from SITA Onyx Hospitality appoints Sukamal Mondal as Regional General Manager Oana Savu joins Dophop as Director strategy MotoGP stars learn Muay Thai ahead of Thai Grand Prix at Buriram Hertz and bp to develop network of electric vehicle charging stations in the United States and Qatar Airways add 42 countries to shared network cross panels Ownership in Bangkok, Thailand Inauguration of the Mandarin Oriental Palace in Luzern, Switzerland Anantara adds a zip line 400-meter e to Phuket’s Layan Active Area easyJet improves operations with DPO and CDA Gulfstream IHG’s 1,000th BR725 engine refreshes Even Hotels branded hotels’ integrated dining and wellness experience: ADR , OR and RevPAR up in all Asia-Pacific markets Xiamen Airlines orders 40 Airbus A320 family aircraft neo Airways unveils flight plan for winter 22/23 Marriott unveils plan to add more than 5 000 rooms in the Middle East by end of 2023 First of six H160s in SAR configuration IHG signs second Indigo Hotel in Jeddah, Saudi Arabia CTG Hotel appoints James Kim as COO Martin Becquart joins Raffles Hotel Phnom Penh Royal as Chief Executive Sihot Appoints Diogo Llorente as COO and Michael Wernet as Chief Operating Officer Royal Huisman Unveils Wing 100 Megayacht WTTC Releases Report: Nature Positive Travel & Tourism Airbus Nouve the oversized loading system and loading gauge; Verification imminent Dusit Central Park Bangkok will feature 11,200 sqm Roof Park Sky Garden ANA confirmed as launch customer for Boeing’s Insight Accelerator. Premium seats in U.S. long-haul fleet to grow more than 45% by 2026 Embraer buys minority stake in XMobots Boeing predicts mid-east airlines will need 2,980 new planes through 2041 SITA launches program of innovative Airbus and Ecocopter partnership to work together in UAM market in Latin America Bombardier Challenger 3500 business jet enters service US-Bangla Airlines signs distribution agreement with Saber Qatar Airways to reintroduce A380 on flights to Perth, Australia China Airlines to increase flights to Philippines and Thailand United Airlines Emirates partner Vakkaru Maldives Resort appoints Diana Vergara as Resident Marine Biologist Doha hosts global aviation industry financial symposium Food School B angkok to open in October IHG signs B angkok’s first urban beachfront resort Holiday Inn in Indonesia Singapore Tourism Board begins issuing travel agent licenses electronically Appoints Wael Sawan as CEO Apollo Funds commits up to $1.5 billion for customer finance deal Passenger Volume Continues to Rise at Hong Kong Airport US$350 Million for A350 Inflight Entertainment System Asia Pacific Airlines Reports July Traffic Increase of 528.8% US Air Force Takes Delivery of Bombardier Global 6000 Aircraft Brazilian Armed Forces to Acquire 27 Airbus H125 Helicopters Boeing Completes Construction of Advanced Composites Manufacturing Center in Arizona Marriott Signs First Property in Papua New Guinea Emirates Offers First Class Passengers Dom Pérignon class 2003 Plénitude 2 on certain flights Hyatt opens a second Thompson hotel in Europe Aeroflot signs an agreement of intent with UAC for 339 aircraft on the long-haul flights Etihad to increase flights to JFK; Expand partnership with JetBlue Fiji crowned Rugby 7s World Cup 2022 champions; Australia Women get a hat-trick AirAsia X resumes flights between Kuala Lumpur and Sydney, Australia HeliDax becomes first to sign new Airbus HCare Classics support contract United Airlines signs CPA for 200 4-seat eVTOL with options for 200 Qatar Airways and Virgin Australia begin Strategic partnership Major hotel markets in Europe exceed 2019 profitability levels Poland selects Boeing AH-64 Apache for its Kruk attack helicopter program Airbus to provide Milsatcom UHF services to Czech Republic and the Netherlands IATA Releases Global Air Cargo Statistics for July 2022 40 Teams to Participate in Rugby World Cup Sevens 2022 in Cape Town, South Africa Pan Pacific Appoints Margaret Paul as Vice President of pre-opening and operations – Oceania Airbnb publishes report on tourism dispersion Embraer predicts that Malaysia will need 150 new aircraft under 150 seats Air Canada donates Lockheed L-10A Electra to Royal Aviation Museum Airbus Partners Hiratagakuen for eVTOL flight testing in Japan Three Diffe lease MQ-25 unmanned aircraft control aircraft from US Navy Cathay Pacific Partners PolyU on New Cadet Pilot Training Course Hamad Int. Airport Opens Second Transit Hotel Duetto Appoints Jeff Nicholson as Chief Marketing Officer Pan Pacific Appoints Richard Tan as Vice President of Operations for Dhaka, Indochina, Malaysia and Nairobi Conrad Centennial Singapore Appoints Pranjal Walawalkar to Commercial Director position Jamaica to Adopt SITA Hahn Air’s Digital Travel Declaration Solution to Plant 150,000 Mangrove Trees in Kenya and Madagascar Smiths Detection’s HI-SCAN 6040 CTiX X-Ray Scanner Added to Firefly Mid-Size QPL resumes Penang – Phuket flights with a Boeing 737 Hilton opens hotel in Hiroshima, Japan American Express Global Business Travel to Upgrade to Travelport+ Marcel Holman joins Pan Pacific as Vice President of Operations – China, Indonesia and Japan Su Zie Chew joins Conrad Centennial Singapore as Director of Systems Operations in Honmoku and Sendai, UAE to expand A38 services 0 to 42 destinations by April 2023 Air New Zealand unveils A321neo with special Star Alliance livery PPHG appoints Anne Golden as VP Operations – UK and North America Cebu Pacific to upgrade planning crews with iFlight Hilton opens 608-room hotel in Palm Jumeirah, Dubai Rolls-Royce and Air China to establish JV MRO facility in Beijing, China Smiths Detection India signs MoU with Navratna Defense PSU Bharat Electronics Boeing orders advanced trainer aircraft fuselage systems at Saab Thai AirAsia X to launch flights between Bangkok and Tbilisi, Georgia HMD Asia Signs First Shinta Mani Hotel Outside Airports, Biometrics and Travel in Cambodia – Interview with Sumesh Patel, President of SITA APAC Photos of Miss International Queen 2022 in Pattaya, Thailand Stationary? Interview with Dennis Keller, Commercial Director
HD videos and interviews
HD Video Interview Podcasts RSS Feed – Travel Industry News
Ticker – Travel Industry News
Travel Industry News Archive
Travel fairs
High resolution image galleries
Travel News Asia – Latest travel industry news


Comments are closed.