Swissport Tanzania posted a net profit increase of 21% in its financial year, showing a recovery from the impact of Covid-19.
The performance of the East African country's largest ground and cargo handling services could also be attributed to a better performance by Air Tanzania Company Limited (ATCL).
Swissport Tanzania chairman, Dirk Goovaerts, said in a statement that ground and cargo handling business segments have fully recovered from the impact of the coronavirus pandemic.
"Airlines are operating at their normal capacity and have plans to increase frequencies.
“Planned growth of ATCL is also expected to stir further growth of the aviation market.
“Cargo volumes are increasing while import volumes are expected to remain constant and stable," Goovaerts said.
Flight frequencies increased by 53% and the volume of cargo handled increased by 20%.
The frequencies and cargo increase pushed up revenue by 25%.
Swissport shares on Dar es Salaam’s Stock Exchange appreciated by 36.3% on the news.
To ensure the sustainability of the business this year, the firm will improve the quality of service offered to airlines, maintain operational and cost efficiencies, and invest in human resources, technology, training, ground support equipment and cargo infrastructures.
