Swissport pulls out of Changi
Airport ground handling firm Swissport International, a unit of Spain’s Grupo Ferrovial is pulling out of Singapore’s Changi Airport after chalking up losses of more than S$50 million (US$33.6 million) since starting up operations at Changi in 2005. Swissport’s Singapore operation was not of sufficient size to ensure profi tability, Swissport said in a statement. […]
February 1, 2009
By PLA Editor
Swissport’s Singapore operation was not of sufficient size to ensure profi tability, Swissport said in a statement.
The Civil Aviation Authority of Singapore (CAAS) said it had awarded Changi Airport’s third ground handling licence to Swissport in 2005 to create more competition in the market.
‘It is unfortunate that the size of Swissport’s local operations, as well as the timing of the global economic downturn, which has affected the air freight business in particular, has pushed Swissport to withdraw from Singapore,’ CAAS director general and chief executive officer Lim Kim Choon said.
The Civil Aviation Authority of Singapore said Swissport’s airline clients will continue to receive the same level of service through new agreements with either of the two other ground handlers at Changi Airport – Singapore Airport Terminal Services, a unit of Singapore Airlines and Changi International Airport Services.