WFS acquires majority shareholding in BARC
02/Apr/2008

International air cargo handler Worldwide Flight Services (WFS) has acquired a majority shareholding in British Airways Regional Cargo (BARC), extending its coverage to a further 11 stations in the UK regions and Ireland.

WFS has purchased its 60% stakeholding from three of BARC's founders; Bryan Bullman, Jim Dunwoody and Malcolm Jackson. Terms of the acquisition have not been disclosed. The remaining 40% of shares will continue to be held by British Airways World Cargo.

WFS executive chairman, president & CEO Olivier Bijaoui said the UK and Ireland was a key market for WFS. "Since 2001, we have increased our operations at London Heathrow to over 250,000 sq ft and in 2007 we established a presence at Gatwick and Stansted airports.

"BARC is an excellent strategic fit with the WFS business in the UK and Ireland, with very little overlap, and gives us the additional presence we have been looking for to grow with both existing and new airline customers. This investment also extends our business relationship with BA World Cargo and this is another attractive aspect of this development."

In the UK and Ireland, BARC operates over 260,000 sq ft of cargo handling facilities in Belfast, Birmingham, Bristol, Dublin, East Midlands, Glasgow, Leeds-Bradford, London Heathrow, Manchester, Norwich and Shannon. Employing 246 staff, it provides cargo handling for BA World Cargo and other major airlines, including American Airlines, Singapore Airlines, Northwest Airlines, Air India and GB Airways. BARC generates annual revenue of some £28m (€36m) and handles 110,000 tonnes of cargo per annum.

"All the BARC cargo handling operations will be branded as Worldwide Flight Services under the deal," added WFS. "The sales activities currently undertaken by BARC for British Airways in the UK will continue under the current identity and as a dedicated division with its own management."