“Swissport was not entirely immune from the difficult developments within the air transport market, but can nevertheless look back on an encouraging business year,†the group said.
The year saw Swissport establish new operations in Cyprus, Bulgaria and Ukraine and assume responsibility in South Africa for all home carrier South African Airways’ ground handling at six airports including SAA’s Johannesburg hub. It said the only “less favourable development†during the year was the closure of Swissport’s Singapore operation.
For 2009 the group said there were few indications of any imminent business recovery, saying it expects little improvement in the general market situation before 2010. “Swissport, too, is preparing itself for a stagnation in its revenues in 2009, and will be striving to take the corrective action needed to bring greater flexibility to its biggest fixed-cost positions over the next few months.â€Â
“We have a sound and broad-based business model that will enable us to respond swiftly to all coming developments,†said Per Utnegaard, Swissport President & CEO.
Meanwhile, Swissport has concluded a cooperation agreement with Virgin Atlantic Airways covering the handling of Virgin Atlantic’s cargo across Europe. The accord, which extends to up to 40 destinations, enters into effect on 1 May.
Both partners added that they expect to see a slight recovery in the cargo business in the second half of 2009, followed by clear improvements next year.