Formed through a merger between Air France and KLM’s handling subsidiaries AFSL and KGS in 2009, Cobalt provides check-in, ticketing, baggage and ramp handling services at Heathrow’s terminals 3 and 4. Its customers include Aeromexico, Air France-KLM, China Southern, Delta Air Lines and Etihad Airways, amongst various others.
Following the signing of an MoU last November, KLM’s CFO Erik Swelheim confirmed that the sale to Groupe CRIT’s Group Europe Handling subsidiary had been completed on January 6.
According to the group, which already serves more than 130 airlines and employs 3,000 staff, the acquisition will rank as the third largest ground handler at Heathrow. “The integration of Cobalt Ground Solutions, to be effective on Jan. 1, 2017, would bring to the airport division of the group additional sales over €40m (US$42.2m),” Groupe CRIT said, at the time of the MoU signing.
This latest sale by Air France-KLM comes in addition to two other recent deals, including the sale of shares in catering firm Servair and in IT company Amadeus.
