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Bankleitzahlen - online.de


Swissport International to set new priorities in Asia and withdraw from Singapore

Zurich/Singapore, 12 January 2009 - Swissport International, the
world's leading provider of ground services to the aviation sector,
will be ceasing its ground handling operations in Singapore at the
end of March 2009 for economic reasons and further focusing its
activities on other Asian markets.
The business continuity for all Swissport customers during the
transition period is secured and also fair severance arrangements
have been devised for the employees affected.

In its endeavours to secure the long-term success of its Asian
business, Swissport has been conducting an extensive study of its
present Singapore operations. It was back in 2005 that Swissport was
awarded the third operating concession for Singapore's Changi Airport
after a thorough tender process. The company went on to provide the
full range of ground handling services at the airport, including new
warehousing facilities; and, despite a difficult market environment
and the presence of two long-established competitors, Swissport
rapidly won the business of four major airline customers and helped
bring more attractive competitive terms to both the airport and its
user carriers.

In view of the present state of the airline sector, however, and the
fact that Swissport's local operation is not of sufficient size to
ensure its sound profitability, Swissport has reluctantly decided to
cease all its ground handling activities in Singapore with effect
from 31st of March 2009. Swissport deeply regrets this development,
and will be doing its utmost over the next few weeks to ensure the
smoothest of transitions for its customer airlines and fair severance
arrangements for its own personnel.

The work here will involve terminating commercial agreements with
existing customers and business partners and seeking the best
possible solutions for the Swissport Singapore workforce of some 300
employees.

Swissport will now be focusing its attentions in Asia even more
strongly on the Japanese and South Korean markets, where it is well
and successfully established at five airports already. China, too,
along with other emerging markets, remains firmly on Swissport's
"wish list" for further business expansion in the medium-term
future.


Swissport International Ltd., which is owned by Ferrovial, a leading
European infrastructure and service corporation based in Spain,
provides ground services for over 70 million passengers and 3.5
million tonnes of cargo a year on behalf of some 650 client
companies. With its workforce of around 30 000 personnel, Swissport
is active at 179 airports in 41 countries on five continents, and
generated consolidated operating revenue of CHF 1.9 billion (EUR 1.3
billion or USD 1.8 billion) in 2007. www.swissport.com /
www.ferrovial.com


Swissport International Ltd.
Corporate Communications
P.O. Box
CH-8058 Zurich Airport

Media contact:
Marketing Dynamics AG
CH-8152 Glattbrugg
Phone: +41 43 812 4950
Mobile: +41 79 638 9939
Fax: +41 43 321 2560
Email: beerli@mdynamics.ch

The media release can be downloaded from the following link:


This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
Copyright © Hugin AS 2009. All rights reserved.



 
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