Cargo Newswire
  • Home
  • News
    • Airlines
      • Freighter Operator
      • Bellyhold Airline
    • Associations
    • Airports
    • Business
      • Air Cargo Statistics
      • Cool Chain
      • Finance
      • Supply Chain
    • Freight Forwarders
    • Services
      • Handlers
      • Charter Operator
      • ULD
      • Freighter Conversion/MRO
      • GSSA
    • Sectors
      • Animal Transportation
      • E-Commerce Logistics
      • Perishable Logistics
      • Pharma Logistics
    • Technology
      • Airfreight Digitisation
      • E-Commerce Logistics
    • Policy
      • Air Cargo Security
    • People
    • News By Date
  • Reels
  • Magazine
  • Advertise
  • More
    • Jobs
      • Jobs
      • Post a Job
    • Events
  • Archive News
  • Subscribe
  • Newsletter
No Result
View All Result
  • Airlines
  • Airports
  • Associations
  • Business
    • Cool Chain
    • Finance
    • Air Cargo Statistics
  • Freight Forwarders
  • People
  • Cargo Handling
  • Sectors
    • Animal Transportation
    • E-Commerce Logistics
    • Pharma Logistics
    • Perishable Logistics
  • Services
    • Freighter Conversion/MRO
    • Handlers
    • Charter Operator
  • Technology
    • Logistics
    • Policy
    • Air Cargo Security
Cargo Newswire
  • Home
  • News
    • Airlines
      • Freighter Operator
      • Bellyhold Airline
    • Associations
    • Airports
    • Business
      • Air Cargo Statistics
      • Cool Chain
      • Finance
      • Supply Chain
    • Freight Forwarders
    • Services
      • Handlers
      • Charter Operator
      • ULD
      • Freighter Conversion/MRO
      • GSSA
    • Sectors
      • Animal Transportation
      • E-Commerce Logistics
      • Perishable Logistics
      • Pharma Logistics
    • Technology
      • Airfreight Digitisation
      • E-Commerce Logistics
    • Policy
      • Air Cargo Security
    • People
    • News By Date
  • Reels
  • Magazine
  • Advertise
  • More
    • Jobs
      • Jobs
      • Post a Job
    • Events
  • Archive News
  • Subscribe
  • Newsletter
No Result
View All Result
Cargo Newswire

SATS to acquire Worldwide Flight Services for €2.25bn to create biggest global cargo network

September 28, 2022
in Airlines
Reading Time: 3 mins read
0 0
A A
0
Share on FacebookShare on Twitter

Singapore-based cargo handler SATS has reached an agreement to buy Worldwide Flight Services (WFS) from an affiliate of asset investor Cerberus Capital Management in a deal with an enterprise value of €2.25bn.

The transaction will bring together WFS, the world’s largest air cargo handler with operations in the Americas and Europe, and SATS, a provider of aviation services in Asia.

A joint statement said that the combination creates a first-of-its-kind global air cargo platform with scale and a network of stations across Asia, the Americas, and Europe.

Related Post

time:matters strengthens presence in Southeast Asia

LATAM Cargo Moves Over 25,000 Tons of Flowers During Mother’s Day Peak Season

United Cargo at Newark: A Strategic Gateway Powering Global Supply Chains

Hong Kong Air Cargo and Turkish Cargo Formalize Strategic Partnership with MoU

The statement added that customers will benefit from the combined platform’s “broader suite of services, operational best practices, and integrated technology”.

Said Craig Smyth, WFS CEO: “WFS has become the leading global air cargo logistics provider thanks to our commitment to customers, our experienced team, and our partners at Cerberus. “As we look to our next stage of growth, this combination will deliver exciting benefits for our customers and our people. We have great respect for SATS and enjoy similar values. “By bringing together our respective strengths, we will be able to build on our trusted relationships around the world.”

Kerry Mok, SATS CEO, commented: “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 mission 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.”

Cerberus bought WFS In June 2018, in a deal worth €1.2bn.

Cerberus managing director Craig Brooks commented: “It has been a privilege to work alongside the talented WFS team and support the company in reaching new heights.

“Over the past four years, WFS has become a global leader by growing its network and investing in technology, operating capabilities, and customer solutions. SATS is a great partner for WFS and the combination will enhance growth and the value proposition for customers.”

Following the close of the transaction, WFS will become a wholly owned subsidiary of SATS and the WFS management team will continue to lead the business. WFS, with annual revenues of €1.8bn, has more than 30,000 employees serving over 300 customers at 164 major airports in 18 countries on five continents. SATS has customers in over 60 locations and 14 countries across the Asia Pacific, UK, and the Middle East. SATS has been listed on the Singapore Exchange since May 2000.

The WFS transaction is subject to customary regulatory and SATS shareholders’ approval and is expected to close by March 31, 2023. In connection with this transaction, WFS was advised by Goldman Sachs & Co. LLC as exclusive financial advisor, Linklaters LLP as lead counsel and Deloitte LLP as tax advisor.

ShareTweetPin
Devender Grover

Devender Grover

Devender was born in the year when the Beatles Group was formed. He holds two master’s degrees in English Literature and Public Administration. He also has an Honors degree in English Literature and a post-graduate diploma in Corporate Communications and Public Relations. He was closely associated with the Indian State Transport Undertakings and Ministry of Transport in his role as Corporate Communications and PR specialist for over two decades handling domestic and international organizations. He ventured into business forming his own Media House, Profiles Media Network Private Limited which is now a twenty years old company. Excelling as an editor, Marketing, PR, Anchor, and Advertising specialist, he is now expertly navigating the world of social media. A widely traveled professional internationally, Devender has a deep understanding of the Air Cargo, Cargo Business, Cargo Airports, Freighters and Cargo Industry at large.

Related Posts

Airlines

Unboxing the Emirates Courier Express Livery

by Devender Grover
May 16, 2025
Airlines

Etihad Cargo introduces new regional structure to support network growth

by Devender Grover
May 16, 2025
Airlines

Vienna Airport handles more cargo in the first quarter of 2025

by Devender Grover
May 16, 2025

Unboxing the Emirates Courier Express Livery

May 16, 2025

Etihad Cargo introduces new regional structure to support network growth

dnata to open advanced animal handling centre in Amsterdam

dnata to expand airside fleet with 800 new units in US$ 110 million rollout in 2025

Vienna Airport handles more cargo in the first quarter of 2025

Aeroprime group launches glid – the next-generation unified airline retailing platform

Tags

Airbus Air Canada Air Cargo Aircargo Air Cargo News Air Freight Airfreight Airlines American Airlines Atlas Air Aviation Aviation News Boeing cargo industry news Cargo International News Cargo News Covid 19 DB Schenker DHL DHL Express dnata E-commerce Emirates Emirates SkyCargo Etihad Cargo Europe Freighter Freighters IAG Cargo IATA Latest Air Cargo News Logistics Logistics News Lufthansa Cargo Pharma Qatar Airways Qatar Airways Cargo Supply chain Sustainability Swissport Technology TIACA Turkish Cargo UPS WFS
  • Home
  • About us
  • Magazine
  • Subscribe
  • Reels
  • Events
  • Advertise
  • Careers
  • Contact us
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Copyright © 2025 Profiles Media Network Pvt Ltd. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • Airlines
    • Airports
    • Associations
    • Business
    • Freight Forwarders
    • People
    • Cargo Handling
    • Sectors
    • Services
    • Technology
    • News By Date
  • Reels
  • Magazine
  • Archive News
  • Subscribe
  • Newsletter
  • Advertise
  • Jobs
  • Subscribe
  • Events

Copyright © [2024] Profiles Media Network Pvt Ltd All Rights Reserved. Build with ❤️ by Onairdigital

Our website uses cookies. We use cookies and similar technologies to personalise content, to provide you with relevant marketing, to enhance your user experience and to gain insight and track how you interact with us and our partners. Learn more in our Privacy Policy and Cookie Policy.