Riyadh - Sharikat Mubasher: The Saudi-based Asyad Holding Group entered into a strategic partnership with the Swiss aviation services company, Swissport International, to elevate the aviation ground services sector in Saudi Arabia within the upcoming years.
Asyad concluded a binding transaction agreement to acquire a 49% stake in Swissport Saudi Arabia, a recent press release stated.
As per this partnership, Swissport will broaden its Saudi presence in air cargo handling, airport ground services, and the lounge hospitality business, in particular with Saudi carriers.
Osama Al Sayed, Chairman of Asyad, stated that the partnership with Swissport will bolster the capabilities of Swissport Saudi Arabia and place it in a strong position to contribute toward the Kingdom’s ambitious Vision 2030.
He further noted that this team-up will deliver the quality and capacity required for the Saudi aviation sector to grow and thrive.
In turn, Warwick Brady, President and CEO of Swissport International, affirmed that the partnership with Asyad is “a milestone in the development of Swissport in Saudi Arabia.”
“The partnership will support our strong track record in Saudi Arabia since we successfully entered the market in 2016,” Brady added.
Swissport currently provides passenger services and ramp handling at five Saudi airports: King Abdulaziz International Airport in Jeddah; King Fahd International Airport in Dammam; Prince Mohammad Bin Abdulaziz International Airport in Medina; King Khalid International Airport in Riyadh; and Prince Naif bin Abdulaziz International Airport in Buraidah.
Asyad Holding Group comprises a diversified portfolio of wholly-owned companies, joint ventures, investments, financial holdings, and real estate projects. It has investments in various sectors, including manufacturing, retail, real estate development, and financial investments.
