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SINGAPORE: Swissport International is pulling out of the baggage and ground handling services business in Singapore's Changi Airport by the end of March.
It is also cutting 300 jobs in the process. The company cited poor business climate for its decision.
It said it will now focus on its other Asian markets, such as Japan and South Korea.
Swissport was awarded Changi Airport's third ground handling licence in 2005.
Since then, it is believed to have booked losses of more than S$50 million.
The company currently provides services to four airlines - Swissair, Northwest Airlines, Air Asia and Tiger Airways.
In a statement, the Civil Aviation Authority of Singapore said these airlines will now have new agreements with either one of the two other ground handlers at Changi Airport.
- CNA/yb
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