KLM SELLS CARGO SERVICE CENTER TO D.LOGISTICS
KLM Royal Dutch Airlines said Monday it will sell Cargo Service Center, its global air cargo ground services operator, to D.Logistics AG, a European logistics provider. Terms of the deal were not disclosed.
CSC provides handles more than 1.5 million tons of cargo through 65 stations in 17 countries, as well as providing value-added services to airlines and forwarders.
KLM said its sale of CSC is part of a strategy to place greater focus on the company's core activities: cargo and passenger transportation, and engineering and maintenance of aircraft and engines.
D.Logistics' Airport Services unit processes about 500,000 tons of cargo a year, mostly for primary tenant Lufthansa, and through a joint venture with the Airport of Dussel. Once merged with CAC, the new company will handle more than 2 million tons of cargo a year.