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SATS unit divests aircraft fueling business for US$46m

It was sold to a private direct investment firm.

Worldwide Flight Services, the wholly-owned subsidiary of SATS, has sold Maytag Aircraft to Albion River for US$46m.

In a bourse filing, SATS said the sale of Maytag will help streamline operations, deliver synergies and strengthen its balance sheet.

Maytag provides fuelling services, air terminal and ground handling services, and base operations support exclusively to the US Department of Defence in the US and overseas.

“Maytag operates on a standalone basis and outside the Group’s core businesses and competencies,” SATS explained.


 

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