SATS, AirAsia ink ground-handling deal
flightglobal | October 31, 2017
SATS and AirAsia have entered into a share swap and share sale deal, to gain an interest in each other's ground handling units. Under the deal, SATS will acquire a 50% stake in AirAsia's Ground Team Red Holdings (GTRH) for S$119.3 million ($87.6 million). In exchange, GTRH will get an 80% stake in SATS Ground Services Singapore (SGS Singapore).