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Profile 2007

Ground Handling Cargo Services ULD Management Fueling Services Executive Aviation

Aircraft Line Maintenance

GSE & ULDMaintenance

Aviation SecurityServices

e-Services

Key figures

Highlights of2006

Customer airlines over 650Countries 42Revenue (2006) CHF 1.712 billion

EUR 1.070 billionUSD 1.370 billion

Employees over 23,000Flights handled over 2 millionCargo handled (tonnes) over 3 millionAirports served 180Passengers handled over 70 million

January 18

January 31

February 1

February 24

March 15

March 24

April 4

April 19

May 24

May 30

June 19

June 28

June 28

July 3

July 6

July 21

July 26

August 3

August 15

September 1

September 12

October 11

October 13

November 22

December 5

December 21

Swissport wins Tiger Airways hub operation in Singapore

Swissport restructures its organisation

Ryanair and Swissport conclude partnership agreement

Kiev becomes Swissport’s 175th station

Swissport Warehouse in Singapore officially opened

Swissport launches new web check-in facility

Swissport and SITA introduce new CUSS generation

Swissport and Air Malta conclude five-year agreement

Swissport / Checkport meet TSA requirements

Swissport works on mobile check-in

Swissport named Best Global Airport Service Provider for 2006

Change in top management at Swissport International

Swissport and Lufthansa Cargo establish new collaboration model

British Airways selects Unitpool

Unitpool and Etihad provide Aerobox link to the Middle East

Swissport and Jade Cargo International conclude strategic collaboration

Swissport wins key tender process in Spain

Japan becomes Swissport’s 42nd country

Swissport and C.A.L. conclude frame agreement

Swissport and United conclude five-year agreement

Swissport prepares to enter the Indian market

New top management positions appointed

Swissport selected as preferred bidder in New Zealand

Swissport and SWISS conclude major collaboration agreement

Ramp Safety Award for Swissport USA employee

Swissport ends 2006 with several market successes

Content overview

Swissport Profile 2007

Review and outlook

Industry and market trends

Swissport’s position and advantages

Swissport’s business units – milestones and outlook

Swissport’s staff

Ownership

Financial highlights / Facts & figures

Mission & Group Executive Management

02–03

04–05

06–07

08–09

10–11

12–13

14–15

16–17

Abuja Algiers Alicante Almeria Amsterdam

Anchorage Antwerp Arrecife Aruba Athens

Atlanta Barcelona Bariloche Basel Berlin

Looking up:

reassuringperspectives

Birmingham Bonaire Boston Brasilia Brussels

Budapest Buenos Aires Cancun

Cape Town Caracas Charlotte Chicago

Letter from the CEO

Under the new ownership of Ferrovial, 2006 was Swissport’s first full business year. It will go down asone of the most eventful in Swissport’s history, and one in which key paths were taken for the yearsahead.

In a sector as dynamic and swiftly-changing as civil aviation, Swissport was delighted to remain anindustry leader for the fifth year in succession and to further consolidate its leading position throughvarious activities, not least its development of forward-looking technologies.

In doing so, the world’s number-one provider of ground services to the aviation sector again under-lined its ceaseless endeavours to better meet its airline customers’ needs, along with its determinationto dedicate all its time, energies and resources to further refining the various airport processes. Webcheck-in and other e-Services were just some of the developments here.

Swissport anticipates change, too. That’s why the Swissport Group restructured its global activities intothree main business units – Ground Handling, Cargo and Aviation Specialty Services – in spring 2006.The new structure provides greater transparency and a clearer assignment of core competencies andresponsibilities throughout the Swissport organisation.

Swissport also continued to expand its network of operations to ensure that its customers can count ontop-quality ground services on a worldwide basis. The milestones here in 2006 included entering theUkrainian market, winning six new licences in Spain, concluding collaboration agreements in India andacquiring a Japan-based company. The process continues, too: the Bulgarian market is currently beingadded to Swissport’s global product offer.

All these developments are certainly one reason why, once again, Swissport was able to conclude global or supraregional contractual agreements with numerous major air carriers – such as a furtherfive-year accord with SWISS / Lufthansa, our biggest single customer – in the course of last year. Theseagreements clearly confirm the trust that our customers place in Swissport’s overall business policy.But they also show these customers’ new commercial priorities, and their growing desire to work witha small number of skilled, reliable and professional business partners.

We look forward to continuing to work with quality-driven and service-oriented professional businesspartners.

Santiago OlivaresPresident & CEO,Swissport International Ltd.

Swissport Profile 200702 | 03

Review and outlook

Cologne Cordoba Corfu Cozumel Curaçao

Curitiba Dar es Salaam Daytona Beach Denver Douala

Dresden Durban Dusseldorf El Paso Florence

Momentum:

fresh thrustis building

Florianópolis Fort Lauderdale Fort Myers Fortaleza Frankfurt

Fukuoka Geneva Glasgow Guadalajara

Hamburg Hamilton Hanover Harlingen Heraklion

The greater stability of the present situation should be a source of new energies and resolve for all market players in 2007. And with the overall parameters largely unchanged, the year is likely to bringfurther value increases in all areas. Experience has shown, however, that an increase in passenger numbers will not always translate into earnings growth for ground handling companies.

Once again, four major trends are likely to be seen – and may even increase in intensity – in 2007:

– the industry will continue to consolidate, with further takeovers and amalgamations

– with low-cost carriers showing above-average growth, the pressure on the traditional airline network model will further increase

– industry deregulation and market liberalisation will also continue, and will put growing pressure on remaining monopoly arrangements

– new technologies (such as web check-in and other e-Services) will continue to grow in importance – not just as innovations, but also as a means of adopting leaner processes to further lower costs

Those market players who manage to strike an optimum balance between size, costs, quality and inno-vation will be excellently equipped to survive and thrive in tomorrow’s aviation services sector. Forthem, the challenges ahead should be opportunities, too, and should offer excellent prospects of furthergrowth.

Boeing and Airbus also published their own projections recently for the next few years. The manufac-turers expect the world’s airlines to put over 15,000 new aircraft into service between now and 2020.All these transports will also need to be operated, maintained and handled on the ground. And thatshould give our entire industry good reason to expect a promising business future.

All the signs are favourable for further market growth. While the airline industry was suffering billion-dollar losses as recently as three years ago, most air carriers benefited from a healthy economic upswing in 2006. IATA reports a 6.7% rise in passenger numbers and a 4.8% increase in cargo volumes for the year. And many carriers increased their load factors and / or their earnings – a performance that sent positive waves throughout the air transport sector.


Industry and market trends

Honolulu Houston Islip Jerez

Johannesburg Kansas City Khartoum Kiev

Kilimanjaro La Romana

Opportunities:

ready for furthergrowth

Lagos Laredo Larnaca Las Vegas Leipzig

Liège Lille Lima

London Los Angeles Luxembourg Lyon Madrid

Over 70 million passengers and more than 3 million tonnes of cargo pass through Swissport’s compe-tent hands each year. That’s a major challenge for the company’s management and their teams inlogistics, planning, process and quality terms. But it’s one that Swissport meets and masters superbly, asis evidenced by:

– the industry naming it Best Global Airport Service Provider (via the ITM) in 2006

– its 2006 Ramp Safety Award (bestowed on Division Americas by GHI)

– its 81 stations which have earned ISO certification

– the many contractual agreements successfully concluded thanks to our sustainable and long-standing business relationsships

Not that Swissport has any intention of resting on these laurels. On the contrary: the company intendsto make even greater efforts to improve and refine its products in areas such as e-Services, to offer ever-more-innovative ground handling solutions at ever-lower costs. So its check-in options (such asweb check-in and self-service devices), for instance, will continue to be developed and enhanced, all tohelp make the airport process as swift and smooth as it can possibly be.

On top of these activities, Swissport also blazed a trail of its own in 2006 by concluding or renewing aseries of supraregional collaboration agreements with major international airlines that includedSWISS / Lufthansa, Air Malta, United Airlines and Ryanair. Further confirmation of Swissport’sexcellent reputation for the quality professional management of all airport services.

With its network of 180 airports in 42 countries, Swissport is still the world’s leading supplier ofground services to the aviation sector. Swissport provides ground handling for over 650 airlines – acustomer base whose depth and breadth are unmatched by any of its competitors.


Swissport’s position and advantages

Malabo Malaga Manaus Manchester Manila

Memphis Mendoza Mexico Miami Middletown

Milano Montreal Mulhouse Munich Murcia

A threesome:

unity makes sense

Nagoya Nairobi Nantes Nashville Natal

New York Newark

Newcastle Nice Nuremberg Oakland Oklahoma City

Ground Handling

Highlights in 2006 | Major long-term agreements concluded or renewed (with SWISS / Lufthansa,United, Ryanair and others) to maintain revenue and ensure continuity. | Named Best Global AirportService Provider for the sixth year in succession, underlining the sustainably high quality of Swissport’sground handling operations. | New markets (such as Japan and Ukraine) successfully entered and new licences won (e.g. in Spain), reflecting Swissport’s continuing endeavours to increase its market coverage and offer its customers the widest possible network of ground handling services.

Focuses for 2007 | Further enhancing processes and procedures to respond proactively and efficientlyto our customers’ needs. | Further expanding the Swissport ground handling network, especially in Asia, Europe and Oceania. | Special emphasis on further developing e-Services (such as web check-in)to enable customers to simply and directly accelerate the airport handling process.

Cargo

Highlights in 2006 | Clear focus on and alignment to the new business line, with more transparency,business responsibility and attention to specific cargo needs. | New companies and destinations seam-lessly integrated, and commercial agreements professionally managed. | Various new agreements andpackages concluded, confirming the airlines’ growing desire to work with total integrated solutions.

Focuses for 2007 | Securing additional staffing and warehousing capacities to support further key strate-gic collaborations with customer airlines. | Maintaining and further refining operational excellence. |Further diversification (such as expanding the trucking business) and product innovations. | Expand-ing the present network through new operations in Asia, Latin America, Africa and Eastern Europe.

Aviation Specialty Services

Highlights in 2006 | Over 60 new contractual agreements secured at existing locations, extending overall four business lines. | Scope of operations expanded with the addition of further fueling and aircraftmaintenance locations in the USA, aviation security activities in Brazil and an executive aviation fixed-based operation in Zurich. | Firm foundations established for further business growth in the near future.

Focuses for 2007 | Continued business development that at least matches and preferably improves on current growth rates. | Business growth for all business lines, not only in existing markets but also(and especially) in new geographical areas. | Strong emphasis on employee training and on increasingmaintenance signoff capability, to further enhance quality and safety performance.

All three of Swissport’s business units achieved further growth and development in 2006. Regard-less of their geographical location and their specific areas of activity, all three business units striveto operate as cost-consciously as possible while devising and developing innovative new products,tapping into new markets and concluding new and extended collaborations with their customersand business partners. And each enjoyed numerous highlights in 2006 and set further priorities forthe year ahead:


Swissport’s business units – milestones and outlook

Ontario Orlando Osaka Palma de Mallorca

Paphos Paris Peoria

Philadelphia Phoenix Port Elizabeth

People power:

controlling smartprocesses

Port Harcourt Porto Alegre Puerto Plata Punta Cana Recife

Reno Rhodes Rio de Janeiro Rockford

Rome Rosario Rouen Salvador San Antonio

For this reason, we want to build an inspiring working environment that rewards excellence and offersattractive career opportunities which befit a world-class employer.

Inspiration, of course, comes from leadership based on respect and the ability to recognise and promotetalent. To ensure the quality of our management, Swissport regularly conducts talent assessmentsincluding an annual examination of the entire management development process. This involves building on existing training structures at our stations as well as in all of our companies and divisions.

In addition, members of Executive Management undergo annual groupwide screening processes.Individuals at every level of our workforce have an opportunity to become part of a group managementpool if they receive the required amount of credits in the areas of special care, encouragement, educa-tion and development. Flexibility, the achievement of goals, strong social skills and personality alsocount highly.

It was the ambition to recruit the best and brightest human resources for each job that resulted in thecreation of the Swissport Academy. The one-week curriculum involved rigorous training followed by aseries of case studies and presentations to Swissport’s Group Executive Management. It was a totalsuccess, as was confirmed by all 27 participants.

Career development and training at every level are the milestones of this human resources concept,which is designed to identify the most motivated people for each position.

More than 23,000 people work for Swissport around the world. Their shared objective is to deliver aproduct of consistently high quality at every single location we serve. It goes without saying that themotivation of each individual to perform at his and her best is the key to achieving this goal.


Swissport’s staff

San Diego San Fernando San Francisco San Jose San Pedro Sula

Santo Domingo Sao Paulo Sarasota Seattle Seoul

Singapore St. Louis St. Petersburg Strasbourg Stuttgart

Mission:

permanentlyon the move

Tegucigalpa Tel Aviv Thessaloniki Tokyo Toronto

Ushuaia Vancouver Vienna Warsaw

Washington Wichita Worcester Yaounde Zurich

Half a century after its foundation as a construction company, sizeable cash flow and an investmentpolicy aimed at growth in its four strategic lines of business have enabled Ferrovial to become one ofEurope’s leading specialists in the design, construction, financing, maintenance and management oftransport, urban and services infrastructure. Expansion has driven it to seek new markets, leading tothe creation of a multinational group with a stable presence in over 45 countries and on all continents.Growth, which is a priority of Ferrovial’s business strategy, is underpinned by a sizeable capital expen-diture programme, with a clear objective of expanding globally.

Ferrovial obtained EUR 1.4 billion in net profit in 2006.That is a 243% increase compared to 2005.The net profit figure includes an extraordinary result during year 2006 of EUR 1 billion after the selling of the real estate business division, the Bristol Airport and Europistas. Net sales amounted toEUR 12.3 billion, a 48.5% increase. Foreign EBITDA is 73% and foreign sales amounted to EUR 7.2billion (a 88% increase).

A major highlight of Ferrovial’s business year 2006 included the acquisition of BAA, the world’slargest airport management company, thereby becoming the world’s leading private sector infrastruc-ture operator. This is one of the largest overseas acquisitions ever undertaken by a Spanish companyand it entails a further transformation of the group’s business profile and its international presence,increasing both its size and profitability: with the full consolidation of BAA, Ferrovial’s revenues will exceed EUR 12 billion and its EBITDA will amount to over EUR 3 billion, ranking it first amongthe world’s infrastructure groups. Once BAA has been fully integrated, the infrastructure and services businesses will account for 60% of Ferrovial’s revenues and 85% of its EBITDA, and it willobtain 60% of total revenues and 80% of total EBITDA outside Spain. Ferrovial undertook the acquisition as the leader (62% stake) of a consortium with Caisse des Dépôt (28%) and the Singaporegovernment’s investment firm GIC (10%).

BAA manages 7 airports in the UK (Heathrow, Gatwick, Stansted, Glasgow, Edinburgh, Aberdeenand Southampton) which are used by close to 147.5 million passengers each year. BAA currently holds75% of Budapest airport and has interests in Naples airport and in several airports in Australia andthe USA.

www.ferrovial.com

Ferrovial is one of the world’s leading infrastructures groups with a capitalization which exceeds EUR 12,000 million and more than 100,000 employees. With the acquisition of Swissport and BAAFerrovial clearly shows its comittment to the rapidly growing Aviation Industry.


Ownership

33%38%29%

8%24%68%

Switzerland / GermanyAmericasEurope / Asia / Middle East / Africa

Aviation Specialty ServicesCargo ServicesGround Handling Services

Share of revenue by activity

Revenue by region

7%8%

26%59%

Revenue development

OneworldSkyteamStar Alliance (incl. SWISS)Others

420 336 263485 388 303683 546 427

1032 826 6451041 833 6511056 845 6601149 919 7181295 1036 8091499 1199 9371712 1370 1070

1997*

1998*

1999*

2000*

200120022003200420052006

Share of revenue by alliance

(USD 1.00 = CHF 1.25 / EUR 1.00 = CHF 1.60)* Figures for 1997 through 2000 are unaudited. In those years, Swissport was a unit of

SAirGroup and was not required to publish separate figures for ground handling activities.

(in CHF million / USD million / EUR million) CHF USD EUR

Financial highlights 2006


Growth by employees

3,0008,000

15,00017,00017,00018,00020,00021,00022,00023,000

1997199819992000200120022003200420052006

Growth by stations

344

101127130153163166175180

1997199819992000200120022003200420052006

SWISSKLMeasyJetLufthansaUnited AirlinesRyanair Northwest AirlinesSingapore AirlinesMonarch AirlinesMexicana

Virgin Atlantic AirwaysBritish AirwaysAir FranceGOLDelta Air LinesAlitaliaJapan AirlinesChina AirlinesKorean AirAustrian Airlines

Top 20 customers by revenue (2006)

– market and airport liberalisation– deregulation– cost pressures and outsourcing– aggressive low-cost carriers– single sourcing with strategic partners– market consolidation– increasing importance of security

Worldwide trends

No. of flights handled(in million)

Cargo tonnes handled(in million)

Airline customers

Other key figures

1.651.80 2.002.20 2.30

2.503.003.203.20 3.30

600650650650650

2002200320042005 2006

2002200320042005 2006

2002200320042005 2006

Facts & figures

Mission

Swissport | is the leading global airport and aviation service provider in terms of quality, reliability,customer dedication, growth, innovation and network coverage

Swissport | offers a wide range of products at optimum value for money and achieves an attractive return on investment for all parties involved

Swissport | is able to provide an “all-inclusive service package” as well as to manage new integrated collaboration models (outsourcing)

Swissport delivers everything the aviation industry needs

Ground Handling:– Passenger and Ramp Services– Baggage Services– Ticketing– Lost and Found services– Lounge Operations– VIP treatments– Gate and Check-in Services– Irregularity handling– Station control– Load control– Crew Administration

Cargo Handling:– Ramp and freight services– Aircraft loading / unloading– Warehousing– Trucking– Mail handling– ULD Control and management– Export and import document handling

Aviation Specialty Services:– Executive Aviation Handling– Aviation Security Services– Fueling Services– Aircraft Line Maintenance– GSE maintenance– Cleaning and Catering Services


President & CEO

Santiago Olivares

Ground Handling Europe /

Asia / Middle East / Africa

Urs Sieber

Executive Vice President

Ground Handling

Americas

Richard van Bruygom


Cargo Services

Michel Jansen


Aviation Specialty

Services

Erich Bodenmann


Finance

Luis Pascual


Corporate Development

Sara Enriquez


Legal

Elena Fernandez


– Algeria– Austria – Cyprus– France – Germany– Greece– Groundstar UK – India– Israel – Italy – Japan– Kenya– Korea– Philippines– Poland – Singapore– South Africa – Spain – Sudan– Switzerland– Tanzania – Ukraine

– Argentina – Brazil – Canada– CFE (overnight freighters)– Dominican Republic– Hallmark– Mexico – Peru – USA

– Aruba – Belgium – Bonaire – Brazil – Canada– Curacao – France – Germany – Greece – Honduras– Hungary – Israel – Italy – Kenya – Korea– Luxembourg – Mexico – Netherlands– Philippines– Peru – Russia – Singapore– South Africa – Sudan– Switzerland– Tanzania– UK – USA – Venezuela – ULD Management (Unitpool)

– Swissport Aircraft Line Maintenance – Swissport Aviation Security (Checkport)– Swissport Executive Aviation – Swissport Fueling Services

Operations

Philipp Joeinig


Group Executive Management

Chairman of the Board: Dr. Thomas Staehelin

Contact Swissport International Ltd.

P.O. Box8058 Zurich-Airport

Switzerland

Phone:+41 43 812 4954

Fax:+41 43 321 2874

[email protected]

www.swissport.com

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