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Struggling Swissport’s future looks set to stabilise with a deal which will see it under new ownership – something parent HNA Group has wanted for a while, but perhaps not in this way.

Stakeholders have agreed that some 1.9bn ($2.3bn) of debt will be converted into equity or extinguished, while the company has also finalised a new 500m long-term facility and an additional 300m interim facility, reports SCMP. Despite the restructuring, the company has warned that thousands of jobs could still be lost.

Swissport’s full announcement can be seen here.

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