Improved business environment to drive flight frequencies and cargo volumes up in 2023 – Swissport

Improved business environment registered in the aviation sector over the past years is expected to increase flight frequencies and volume of cargo in 2023 according to the latest Swissport Tanzania outlook.

The Swissport Tanzania Chief Executive Officer Mrisho Yassin said both ground handling and cargo handling business segments have fully recovered from the impact of COVID 19 with airlines now operating at their normal capacity and have plans to increase frequencies.

“Planned growth of Air Tanzania (The National Carrier) is also expected to stir further growth of the aviation market. Cargo export volumes are increasing while import volumes are expected to remain constant and stable. Lounge business is envisaged to continue growing and contribute positively to the business,” Yassin said.

The Dar es Salaam Stock Exchange (DSE) listed company however remains committed to improving quality of services offered to airlines, maintaining operational and cost efficiencies, investments in human resources, technology, training, ground support equipment and cargo infrastructures, product innovation, retention of customers and winning new profitable business as key priorities to sustain and grow the business in 2023.

Good performance in 2022

According to the company’s financial results for the year ended December 31, 2022, flight frequencies increased by 53% and volume of cargo handled increased by 20%.

As a result, company’s net profit rose to 2.61bn/- from 2.15bn/- realised in the preceding year attributed to significant business recovery from the impact of COVID 19 and increased Air Tanzania operations.

The company’ total revenue increased by 25 percent to 38.29bn/- according to the company’s audited financial results.

Dividend to Shareholders

The company’s Board has announce a final dividend of 1.51bn/- or 42/- per issued and fully paid share with the final dividend to be paid out on or about 21st June 2023.