{"id":6231,"date":"2020-03-31T15:02:57","date_gmt":"2020-03-31T15:02:57","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=6231"},"modified":"2020-03-31T15:02:57","modified_gmt":"2020-03-31T15:02:57","slug":"swissport-projects-25-pct-profit-fall","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/swissport-projects-25-pct-profit-fall","title":{"rendered":"SWISSPORT PROJECTS 25 PCT PROFIT FALL"},"content":{"rendered":"

AfricaPress-Tanzania:<\/strong> SWISSPORT Tanzania has announced a profit warning drop for at least 25 per cent due to poor business however not due to coronavirus.<\/p>\n

This signaling that the firm, its share dropped to 1,440\/-to nine-year low, will continue suffering profit loss from market contagion effect of Covid-19.<\/p>\n

Swissport said in a statement that its profit expected to drop by at least 25 per cent in 2019 lower than of 2018 after deterioration in revenue from ground handling operations.<\/p>\n

\u201c\u2026[This is] mainly due to the cessation of operations by Fastjet and Etihad Airways in Tanzania.<\/p>\n

\u201c[Also] the loss of some businesses to the competitions and a significant drop of yield per aircraft handled due to the ongoing price pressure,\u201d Swissport said.<\/p>\n

However, analysts have it that the cancellation of most major international airlines due to the pandemic this month will send further revenue decline to Swissport.<\/p>\n

This leaves Swissport competing for local airlines of only two\u2014Air Tanzania (ATCL) and Precision Air (PW). The latter is self-handling.<\/p>\n

Also, both PW and ATCL have canceled region routes this reducing business to handlers who now will concentrate to domestic flights only.<\/p>\n

However, two months ago Swissport and ATCL signed a business partnership where the former will provide ground handling services.<\/p>\n

Initially, ATCL had been working with NAS-Dar Airco as the ground handling service provider until January when the company handed over the task to Swissport at Kilimanjaro International Airport (KIA). ATCL has been working with Nas-Dar Airco Company since 2016.<\/p>\n

Tanzania Civil Aviation Authority (TCAA) data showed that ATCL had in 2018 the lion\u2019s share of the domestic market-at 22 percent-followed by the self-styled \u2018low cost carrier,\u2019 Fastjet Airlines (19.3 percent), which has long gone due to financial woes.<\/p>\n

Other domestic airlines (with their percentage of market share in brackets) are Auric Air Services Ltd (19), Precision Air (16.3), Coastal Travels Ltd (8) and \u2018others:\u2019 15.4.<\/p>\n

Globally, early this month, the International Air Transport Association (IATA), a trade group, projected a possible hit to worldwide revenues of up to 113billion US dollar this year.<\/p>\n

The global revenue loss is one-fifth of last year\u2019s overall revenues and four times higher than IATA estimated in February, when the coronavirus was still believed to be a Chinese problem rather than a global one.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Tanzania: SWISSPORT Tanzania has announced a profit warning drop for at least 25 per cent due to poor business however not due to coronavirus. This signaling that the firm, its share dropped to 1,440\/-to nine-year low, will continue suffering profit loss from market contagion effect of Covid-19. Swissport said in a statement that its profit […]<\/p>\n","protected":false},"author":84,"featured_media":6224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[817,1683,168],"class_list":["post-6231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-atcl","tag-coronavirus","tag-swissport"],"yoast_head":"\nSWISSPORT PROJECTS 25 PCT PROFIT FALL - Tanzania<\/title>\n<meta name=\"description\" content=\"SWISSPORT Tanzania has announced a profit warning drop for at least 25 per cent due to poor business however not due to coronavirus.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/economy\/swissport-projects-25-pct-profit-fall\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SWISSPORT PROJECTS 25 PCT PROFIT FALL\" \/>\n<meta property=\"og:description\" content=\"SWISSPORT Tanzania has announced a profit warning drop for at least 25 per cent due to poor business however not due to coronavirus.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/economy\/swissport-projects-25-pct-profit-fall\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-31T15:02:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/03\/42f11db4538cd6302ee6ac093f79e3a0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"934\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/swissport-projects-25-pct-profit-fall#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/swissport-projects-25-pct-profit-fall\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"SWISSPORT PROJECTS 25 PCT PROFIT FALL\",\"datePublished\":\"2020-03-31T15:02:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/swissport-projects-25-pct-profit-fall\"},\"wordCount\":372,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/swissport-projects-25-pct-profit-fall#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/03\/42f11db4538cd6302ee6ac093f79e3a0.jpg\",\"keywords\":[\"ATCL\",\"Coronavirus\",\"SWISSPORT\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/economy\/swissport-projects-25-pct-profit-fall#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/swissport-projects-25-pct-profit-fall\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/swissport-projects-25-pct-profit-fall\",\"name\":\"SWISSPORT PROJECTS 25 PCT PROFIT FALL - 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