Swissport makes first UK profit since 2018 as sales finally recover from Covid

The UK arm of Swissport has returned to the black for the first time since 2018 as its turnover recovered to pre-pandemic levels.

The Cheshire-headquartered division of the aviation services giant also created 1,400 jobs during its latest financial year but its total headcount is still significantly lower than it was in 2019.

Swissport has posted a turnover of £300.8m for 2023, according to newly-filed accounts with Companies House, up from the £236m it reported for 2022.

The total is higher than the £126.8m it made in 2021 and £124.3m in 2020.

In the last year before the Covid-19 pandemic, Swissport achieved a turnover of £291.2m.

Swissport has also returned to the black for the first time since 2018 with a pre-tax profit of £10.5m – having made a loss of £17.2m in 2022.

The last time Swissport UK made a pre-tax profit was the £11.5m it posted in 2018.

Since then it has lost almost £120m, including over £85m in 2020.

The newly-filed accounts with Companies House also show that Swissport’s UK headcount stood at 6,200 at the end of 2023, up from the 4,802 total at the end of 2022.

The latest total comes after its headcount stood at 3,535 in 2021, 6,413 in 2020 and 8,426 in 2019.

The accounts for 2023 are the third full-year results for the UK division that Swissport has filed with Companies House in 2024 – with its figures for 2021 filed in January and 2022 in February.

It also filed its accounts for 2020 significantly after the deadline – in February 2023.

According to Companies House rules, businesses are required to filed their latest accounts no later than nine months after the end of its financial year.

Covid-19 impact on sector was ‘seismic’ – Swissport

A statement signed off by the board said: “The Covid-19 impact on the global aviation sector has been seismic.

“UK aviation itself was grounded not once but three times during 2020 and for the first four months of 2021.

“The aviation sector started trading again in the second half of the year, with a fast climb back from a standstill with the official travel ban ending in May 2021.”

It added: “The war in Gaza and the Bank of England warning of a potential recession are recent events which may have an impact on operations.

“The directors continue to keep both matters under review and consider their impact on the business.”

The wider Swissport group reported a €3.4bn (£2.8bn) turnover in 2023, up seven per cent from its 2019 total.