Kuwaiti company to take over Portugal’s insolvent baggage handler Groundforce 

Insolvent baggage handler Groundforce has confirmed “direct and exclusive” negotiations for the purchase of the company are going ahead with Kuwaiti aviation logistics services company NAS (National Aviation Services). The deal should be closed “during the course of the coming weeks”, says a statement to the workers from insolvency administrators. The objective is “to reach an agreement that assures the best conditions for Groundforce’s recovery and the reimbursement of creditors’ claims”. The list of Groundforce creditors, compiled during the company’s insolvency process, includes 2,791 entities, totalling more than €154 million, says Lusa, with TAP “having recognised credits of almost €19.7 million”.