RIYADH: SAL Saudi Logistics Services Co. has agreed to acquire Belgium-based Aviapartner Liege SA for €28 million ($30.3 million), giving the Saudi logistics firm a foothold at one of Europe’s major air cargo hubs. 

Under a sale and purchase agreement signed with Aviapartner Belgium NV and Aviapartner Holding NV, SAL will acquire 100 percent of the company’s share capital on a cash-free, debt-free basis, according to a filing on Saudi Exchange. 

The acquisition gives SAL a full operational presence at Liege Airport in Belgium, a key European cargo hub, and is expected to support the company’s long-term growth strategy. 

SAL, which provides cargo handling and logistics services across Saudi airports, has been expanding its service portfolio as the Kingdom invests heavily in aviation and supply-chain infrastructure under Vision 2030. 

In the Tadawul filing, the company stated: “This acquisition supports SAL’s international expansion strategy by establishing an operational footprint at a key European cargo hub, expanding its cargo ground handling and logistics service offerings at international airports, geographically diversifying its revenue streams, and leveraging operational synergies through access to established infrastructure, airline relationships, and a mature operating environment.” 

The deal is strategically significant because Liege Airport has emerged as one of Europe’s most important air cargo hubs and a rapidly expanding gateway for global freight flows. 

The Belgian airport is the fifth-largest cargo airport in Europe and has recorded strong growth in recent years, handling more than 1.3 million tonnes of cargo in 2025 as volumes rose about 14 percent year on year. 

The transaction will be financed through the company’s available cash resources and remains subject to customary closing conditions and regulatory approvals. 

Aviapartner Liege, based in Liege, Belgium, primarily provides ground handling and cargo services. 

Financial disclosures show Aviapartner Liege generated revenues of €24.7 million in 2023, rising to €28.6 million in 2024 before declining to €24.3 million in 2025. 

SAL said it expects the transaction to have a positive long-term impact on its financial performance following completion and consolidation of the acquired company’s financial results.  

The company added that no related parties were involved in the transaction, which was signed on March 4.