World Fuel Services acquires fuelling operations at Canadian airports

World Fuel Services has acquired aviation fuelling operations of certain ExxonMobil affiliates at 34 airports in Canada and two airports in France.

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The Miami-based company made the announcement via press release in November 2016 and reiterated it at the National Business Aviation Association Schedulers and Dispatchers Conference this week in Fort Worth, Texas.

World Fuel has also become ExxonMobil’s long-term wholesale distributor for general aviation fuel in Canada.

“We are pleased to expand our global aviation network into airport locations in Canada and France,” said Michael J. Kasbar, chairman and chief executive officer of World Fuel Services Corporation, in a news release.

“The closing of these locations, combined with the existing World Fuel business, will provide customers with a premier global fuelling network across the United States and Canada and in strategic locations in France.”

“Our strong cash flow profile enabled us to fund this acquisition with cash-on-hand, leaving our existing liquidity facilities available to fund organic growth and additional strategic investments,” said Ira M. Birns, executive vice president and chief financial officer.

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World Fuel Services sells fuel and delivers services to clients at more than 8,000 locations in more than 200 countries and territories around the world.

Its aviation customers include commercial airlines, cargo carriers, private aircraft and fixed base operators, as well as the United States government.

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