The
Swissport's Chief Executive Officer (CEO), Mr
"The company has continued to record a declining financial performance as a consequence of the competition in the ground handling business in the country, especially when our largest customer,
The pullout budget airline had a massive negative impact to the number of flights handled in last year and experienced a 5,630 flight drop. In 2019 Swissport handled 8,412 flights from 14,051 flights. Also the loss of
Total operating revenue last year shrunk by 26 per cent decrease to 35.4bn/-compared to 48.2bn/-in 2018, this contributed to the drop of ground handling revenue.
On top of that he said airlines fare discount offered last year had a negative impact on their financial performance dropping by negative six per cent as compared to 2018.
Explaining that, due to the mentioned factors the company's revenue in 2019 has decreased by 26 percent as compared to 2018, while its operating costs have decreased by 15 percent. Despite losing airline customers, the firm successfully retained a significant market share of both ground and cargo handling business, he said.
He further gave the projection for this year that the revenue will increase especially due to winning
However, he said that Covid-19 has disturbed the company's expectations financially, causing the revenue to drop compared to 2019, but the company's board will take all steps to make sure it has money to support itself.
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