Swissport to Cut 4,500 U.K. Jobs on Air-Travel Slump
- Airport-handling firm responds to forecast 50% drop in revenue
- Unions urge Britain to provide bespoke funding for aviation
A grounded aircraft, operated by Ryanair, is pictured beyond unused Swissport stairs, at Manchester Airport, on May 1.
Photographer: Oli Scarff/AFP via Getty Images
This article is for subscribers only.
Swissport International AG plans to cut more than 4,500 jobs in Britain as the world’s biggest provider of airport ground and cargo handling services responds to a collapse in demand for air travel.
The Zurich-based company, which is owned by troubled Chinese conglomerate HNA Group Co., needs to reduce employment to cope with a 50% drop in revenue this year and secure vital funding from lenders and investors, according to an internal memo seen by Bloomberg.