Swissport International, a company that provides baggage handling and ground services at airports worldwide, is cutting 300 jobs and ending services in Singapore.
The Zurich-based group and former Swissair division said on Monday that business at the Asian hub was not strong enough for it to turn a profit.
The company currently provides ground services for four airlines in Singapore. Those services will cease on March 31. The move will not affect travellers, the company said.
Swissport handles about 3.5 million tons of cargo and baggage for some 70 million travellers a year. Now owned by Spanish corporation, Ferrovial, the company employs 30,000 people worldwide at 179 airports in 41 countries.
In a statement released on Monday, Swissport, which did SFr1.9 billion ($1.7 billion) in business in 2007, said it plans to focus its Asian services at airports in Japan and South Korea among other markets.