Tanzania's ground handling firm profits drop by 50%

[NairobiWalker]

Swissport Tanzania, the main ground and cargo handling company for airports in the country has reported a 50 per cent drop in profits for the first six months of this year, blamed on the exit of its key client FastJet Tanzania, a low-cost carrier as well as stiff competition from the national carrier's new ground handling firm.
The Dar es Salaam Stock Exchange listed company’s 2019 half-year results show net profits dropped to Tsh2.28 billion ($991,776), from Tsh4.947 billion ($2.15 million) reported in 2018. Revenues fell to Tsh17.24 billion ($7.5 million) from Tsh25.088 billion ($10.9 million) and operating costs to Tsh14.07 billion ($6.1 million) from Tsh17.633 billion (7.67 million).
The firm attributes the drop in revenue to a reduction in business and flight frequencies “by some of our airline customers.”

Swissport Tanzania profits drop 50pc

Swissport has lost business due to the entry of a rival firm and the fall of Fastjet.

www.theeastafrican.co.ke

 

[MK254]

Duh noma sana, vyuma vimekaza.

 

[joto la jiwe]

Swissport Tanzania, the main ground and cargo handling company for airports in the country has reported a 50 per cent drop in profits for the first six months of this year, blamed on the exit of its key client FastJet Tanzania, a low-cost carrier as well as stiff competition from the national carrier's new ground handling firm.
The Dar es Salaam Stock Exchange listed company’s 2019 half-year results show net profits dropped to Tsh2.28 billion ($991,776), from Tsh4.947 billion ($2.15 million) reported in 2018. Revenues fell to Tsh17.24 billion ($7.5 million) from Tsh25.088 billion ($10.9 million) and operating costs to Tsh14.07 billion ($6.1 million) from Tsh17.633 billion (7.67 million).
The firm attributes the drop in revenue to a reduction in business and flight frequencies “by some of our airline customers.”

Swissport Tanzania profits drop 50pc

Swissport has lost business due to the entry of a rival firm and the fall of Fastjet.

www.theeastafrican.co.ke

Hahahaha, hahahaha, hahahaha, Sector of insurance vs a single company. This is what is called, "Desperation "

 

[kilam]

Duh noma sana, vyuma vimekaza.

Si kweli, ushindani umeongezeka. Zamani Swiss port walikuwa peke yao wakati siku hizi kuna kampuni inaitwa Nas-Dar Airco ambayo ndiyo inayohudumia Air Tanzania.

 

[nomasana]

Fast jet had to get shafted by GoT to make way for ATCL only planes to start getting siezed allover the world on top of being severely uncompetitive.

Fast jet didn't have to be viewed as the "enemy" by mavifuli govt. they could have successfully completed each other

But then what do you expect from bongolalas other than a lack of strategic thinking

 

[NairobiWalker]

Hahahaha, hahahaha, hahahaha, Sector of insurance vs a single company. This is what is called, "Desperation "

A company that handles almost all of your cargo boss. That's like all your import-export sector.

 

[Bwana254]

Swissport Tanzania, the main ground and cargo handling company for airports in the country has reported a 50 per cent drop in profits for the first six months of this year, blamed on the exit of its key client FastJet Tanzania, a low-cost carrier as well as stiff competition from the national carrier's new ground handling firm.
The Dar es Salaam Stock Exchange listed company’s 2019 half-year results show net profits dropped to Tsh2.28 billion ($991,776), from Tsh4.947 billion ($2.15 million) reported in 2018. Revenues fell to Tsh17.24 billion ($7.5 million) from Tsh25.088 billion ($10.9 million) and operating costs to Tsh14.07 billion ($6.1 million) from Tsh17.633 billion (7.67 million).
The firm attributes the drop in revenue to a reduction in business and flight frequencies “by some of our airline customers.”

Swissport Tanzania profits drop 50pc

Swissport has lost business due to the entry of a rival firm and the fall of Fastjet.

www.theeastafrican.co.ke

If this was Kenyan company these Danganyikans would've been all over this thread ejaculating to this news.