SINGAPORE (Oct 31): SATS has entered into a swap deal to take a 49% stake in AirAsia’s ground handling business in exchange for 40% of its Terminal 4 ground handling.
SATS will effectively hold 60% in SATS Ground Services — T4’s ground handling business — and 49% in Ground Team Red Sdn Bhd — AirAsia’s ground handling operations.
The deal sees SATS paying S$119.3 million for 38.6% of Ground Team Red and...(click on link for full story on theedgesingapore.com)