Worldwide Flight Services Announces Management Transition

PARIS, FRANCE--(Marketwired - July 01, 2016) - Worldwide Flight Services (WFS), one of the world's leading cargo handlers and providers of ground handling and technical services, announced today that CEO Olivier Bijaoui has left the company. WFS Group Chief Operating Officer Barry Nassberg will assume the interim leadership responsibilities.

Mr. Nassberg joined WFS more than 20 years ago, initially working in Europe during the company's time as a subsidiary of American Airlines, and later in Asia as he led the company's rapid growth in regions outside of Europe and North America. Mr. Nassberg's career in aviation began as a passenger services agent 35 years ago.

Mr. Nassberg said WFS has strong momentum and is confident business will continue as usual during the transition.

"WFS is a strong and growing company with dedicated employees throughout the organization and strong leaders at every level," said Mr. Nassberg. "Our recent acquisition of CAS has all the potential we expected and the integration of our companies is proceeding ahead of schedule. We also have several new business wins coming on line and a robust pipeline of additional opportunities."

In February 2016, WFS acquired Consolidated Aviation Services (CAS), one of the leading cargo handlers in the United States. Mr. Nassberg praised the hard work of employees at both companies in coming together to create a more successful combined business.

"I'm proud of the commitment and dedication to serving our customers I've witnessed from employees at both WFS and CAS as we bring the two organizations together," said Mr. Nassberg. "Our teams have embraced the opportunity to create an even more successful global enterprise."

Bastian Lueken, head of the European investment team at Platinum Equity, which acquired WFS last year, said WFS's strategic growth plan is well on track.

"Teams throughout the company are performing at a high level with an intense focus on serving customers," said Mr. Lueken. "We are pleased with the direction the company is headed and are fully committed to supporting its long-term strategic plan."

Mr. Lueken said he expects a seamless transition and that a thorough global search for a new CEO will identify the right candidate to lead the combined organization into the future.

About WFS

Founded in 1971 and headquartered in Paris, WFS (www.wfs.aero) is the world's largest air cargo handler and one of the leading providers of ground handling and technical services with annual revenues of over EUR1 billion. Its 18,000 employees serve over 300 airlines at 200 major airports in more than 22 countries on five continents.