Worldwide Flight Services (WFS) is being acquired by Cerberus Capital Management, the self-entitled “world’s largest air cargo handler,” based out of Paris, with a presence in 198 major airports in 22 countries.
WFS is “positioned to benefit from attractive long-term industry growth,” said Cerberus’ head of global private equity and senior managing director, Brett Ingersoll. The company cited WFS’ expansive European network as the motivation behind the purchase.
WFS has had a busy 2018 year, so far signing a five-year cargo-handling contract with Emirates Airlines, as well as Air Arabia and Norwegian. Among the company’s other major clients are Air China, American Airlines, Delta Air Lines, IAG Cargo, Lufthansa, SAS and SWISS International Airlines.