Aviation services giant Swissport has delivered a remarkable performance, generating 900 new º£½ÇÊÓƵ positions whilst profits soared nearly fourfold in its most recent financial year.
The Cheshire-based º£½ÇÊÓƵ division has reported pre-tax profits of £39.8m for 2024, a dramatic leap from the £10.5m recorded in the previous 12 months, as reported by .
This earlier figure marked the first profitable year for the division since 2018 within the broader Swissport group.
Fresh filings with Companies House reveal the company's workforce expanded significantly in 2024, climbing from 6,200 to 7,100 employees.
This growth follows the creation of 1,400 positions in 2023.
Nevertheless, current staffing levels remain below the 8,426 employees the business maintained in the final complete year before the Covid-19 crisis struck.
Swissport's º£½ÇÊÓƵ turnover also experienced substantial growth in 2024, rising from £300.8m to £348.6m according to the latest figures.
Airport passenger ground handling services delivered revenues of £240.7m, climbing from £205.6m.
Cargo handling operations saw income rise from £74.5m to £86.2m, whilst lounge services revenue grew modestly from £20.5m to £21.6m.
Swissport highlights recession concerns
The company provides ground handling, cargo services, and airport lounge facilities across 20 º£½ÇÊÓƵ airports.
A board statement cautioned: "Demand for airline-related services is driven by economic activity, which is affected by factors like terrorism, war and oil prices.
"The ongoing war in Ukraine has increased fuel costs and Trump's tariffs announcements have caused significant volatility on global markets.
"High inflation and five per cent interest rates in the º£½ÇÊÓƵ are reducing consumer spending power, impacting air travel demand.
"Looking ahead through 2025, there is a risk of recession, which could further pressure the aviation industry."
"Despite these challenges, the low unemployment rate of 4.4 per cent support business travel."
"The company is focusing on flexibility, using temporary staffing to manage costs and adapt to fluctuating demand."
"This approach helps the company remain resilient amid geopolitical and economic uncertainties, balancing cost control with readiness for sudden changes in travel demand."
