Hamburg | | Press Release

Skytanking Signs Agreement to Buy Two Aviation Fuelling Service Companies in Italy: HUB Srl and PAR Srl

Skytanking has signed a contract to purchase two aircraft fuelling service companies in Italy. The companies, HUB Srl and PAR Srl, provide aviation fuelling services to ENI, Esso and Kuwait Petroleum at five airports in Italy.

Under the contract Skytanking will purchase 100% of the shares in HUB abd PAR from the current owners Esso Italiana Srl, ENI Rete Oil & Non Oil SpA and Kuwait Petroleum Italia SpA. HUB and PAR provide into-plane fuelling services at Milan Malpensa, Rome Fiumicino, Milan Linate, Naples and palermo airports, fuelling over 200,000 aircrafts per year and employing around 180 staff.

ENI, Esso and Kuwait Petroleum selected Skytanking after a competitive tender that ranked bidders on price, the quality of their proposal and into -plane fuelling expertise. Skytanking expects to finalise the aquisition in the coming weeks following the completion of a number of formalities.

This is Skytanking's first move into the aviation fuelling market in Italy and is a welcome addition to Skytanking operations in Germany, Belgium, France, Austria and Switzerland. With the purchase of HUB and PAR, Skytanking will be active in aviation fuelling at 26 airports in Europe, the USA and Asia.