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December 15, 2008

Swissport mulls shutting operations at Singapore's Changi

Airport ground handling firm Swissport International may shut or sell off its loss-making Singapore operations amid the worsening outlook for the aviation sector, the Straits Times reported on Monday.

The paper said the Swiss firm, part of Spain's Grupo Ferrovial , is in talks to sell its business at Singapore's Changi Airport to rivals including Singapore Airport Terminal Services .

Swissport's Zurich-based spokesman Stephan Beerli said the firm was evaluating the future of its Singapore operations but declined to give details, the paper said.

SATS, a unit of flag carrier Singapore Airlines , could not be contacted for comment.

Swissport, which started operations at Changi in 2005, has chalked up losses of more than S$50 million ($33.58 million) to date, the Straits Times said.

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