Swissport International raises operating revenues 8.6% in 2008

Zurich, 20 March 2009 - Swissport International, the global number
one in aviation ground services, reports favourable business trends
for 2008 despite a difficult market environment. The world ground
handling leader raised its total operating revenue 8.6% to CHF 1896
million (EUR 1202 million).
The coming months will, however, pose major challenges throughout the
aviation sector.

Swissport was not entirely immune from the difficult developments
within the air transport market, but can nevertheless look back on an
encouraging business year. Once again - for the 11th year in
succession - the world's leading provider of aviation ground services
increased its total operating revenue. The year also brought further
business progress that 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. The only less
favourable development during the year was the closure of Swissport's
Singapore operation.

The entire airline industry is currently in a difficult situation.
According to IATA, world passenger volumes increased 1.6% last year,
while cargo volumes rose 4%. The revenue trends for November 2008 to
February 2009 are worrying, however, with sizeable declines in all
areas and cargo especially hard hit with a fall of some 20%.
That Swissport can post a revenue result for 2008 which must be
viewed as encouraging given the circumstances in which it was
achieved is due largely to its strong competitive position and its
rigorous cost management. The company's three divisions of Ground
Handling, Cargo and Aviation Specialty Services all made broadly
equal contributions to the positive revenue trend, as did the two
most important markets of Europe and the USA.

A bleak outlook for 2009
Reliable projections are currently a rarity among aviation service
providers, but there are few indications at present of any imminent
business recovery. 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. Swissport expects
little improvement in the general market situation before 2010.

"We have a sound and broad-based business model that will enable us
to respond swiftly to all coming developments," says Per Utnegaard,
Swissport President & CEO. "Even in these difficult times, our 650
customers can continue to count on an innovative and cost-effective
partner; and we will continue to take advantage of any attractive
opportunities to further enhance our network and our product wherever
and whenever they arise."

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 33 000 personnel, Swissport
is active at 179 airports in 41 countries on five continents, and
generated consolidated operating revenue of CHF 1.9 billion (EUR 1.2
billion or USD 1.7 billion) last year. 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

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