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Jun 01, 2023 (newstodate): Without great fanfare, Iceland's leading ground handling company Airport Associates is completing a sales process with new majority owner, the Icelandic venture fund Horn IV.
   Pending approval by the Competition Authority, Horn IV will take 45 percent of the stake in REA that owns Airport Associates and SouthAir.
   REA is today family-owned since its inception almost 25 years ago.
   -We were not exactly in a selling mode, but were approached by the venture fund that considers Airport Associates a key element in the over-all infrastructure of Iceland and Keflavik Airport, says Skuli Skulason.
   -With this coming transaction, we are securing the long-term development of Airport Associates and its orderly transition from a purely family-owned business to a company fully capable of meeting the challenges and opportunities ahead in an industry marked by an eve-changing competitive environment and unpredictable external influences from factors outside our control.
   -We have left 2022 in a good shape with a strong growth in profits and a doubling of income; the number of employees is now close to pre-Covid levels, and we see a stable portfolio of airline customers comprising most foreign airlines operating at Keflavik Airport, including also cargo handling of integrators and ad-hoc operators, says Mr Skulason.