Swissport created 900 UK jobs as its profit almost quadrupled during its latest financial year, it has been revealed.
The Cheshire-headquartered UK arm of the aviation services giant has posted a pre-tax profit of £39.8m for 2024, up from the £10.5m it achieved in the prior 12 months.
That previous figure was the first time the division of the wider Swissport group had made a profit since 2018.
New accounts filed with Companies House have also revealed that the arm’s headcount surged in 2024 from 6,200 to 7,100.
The increase comes after Swissport also created 1,400 jobs in 2023.
However, its updated headcount figure is still below the 8,426 the business employed in the last full year before the Covid-19 pandemic.
Swissport’s UK revenue also surged in 2024 from £300.8m to £348.6m, the new results show.
From airport passenger ground handling, Swissport generated a revenue of £240.7m, up from £205.6m.
The company’s revenue from cargo handling also increased from £74.5m to £86.2m while its lounge revenue edged up from £20.5m to £21.6m.
Swissport warns of recession risk
Swissport operates ground and cargo handling as well as airport lounge services at 20 UK airports.
A statement signed off by the board said: “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 UK 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.”