TOP 10 AIRPORTS: DUBAI INTERNATIONAL
“We have ensured everything is in place to welcome airlines from around the world back to Dubai as a growing number of bilateral agreements between countries conclude to facilitate the opening of
borders and the gradual return of traffic.”
Paul Griffiths, CEO, Dubai Airports
that DDF was awaiting approval to restart operations after an inspection was conducted on 2 June by the Dubai Civil Aviation Authority. It was revealed just a day
later that the company had recommenced trading at Dubai International Concourse B West in the first phase of a staggered revival programme. DDF had submitted proposals to
relevant authorities concerning the safe re-opening of shops shortly after the Eid holiday period in May. DDF
currently operates
around 180 shops over more than 40,000sqm of retail space across Dubai International and Al Maktoum International Airports. In an insightful presentation made during the TRBusiness webinar,
Cidambi took the opportunity to highlight the retail outlook for the coming months and shed important light on some of the steps the travel retailer is taking to mitigate against the damage caused by the coronavirus. “We experienced the first effects
of the Covid crisis towards the end of January; in the beginning, we thought it would be about a $100m hit to our business and then we realised the seriousness of the problem,” said Cidambi. “By the beginning of March, we
thought it was a $300m-$400m hit, then our shops finally stopped operating on the 25th March.”
Scheduled flights resume Given the significant geographical spread of DDF’s customer base, the balance of sales between major source markets such as Europe, the Far East, the Middle East and Indian subcontinent was fairly evenly distributed in the three months until the travel retailer’s shops shut. On 2 June, sales were 52% down
year-on-year. Around $400m worth of business had been done to date. For the remainder of the year, DDF estimated that turnover would increase by a further $200m-$300m on the $400m already accrued – dependent on passenger levels.
“For a low forecast, we think
we will finish the year with about $600m and in terms of a higher forecast, about $800m-$900m,” said Cidambi. “But a lot of this depends on the blocks to people travelling easily.” Since
TRBusiness exclusively
published these comments, Dubai Duty Free resumed operations for departing passengers in Dubai International Airport Terminal 2, according to a post on the retailer’s Facebook page. Concourse B East, Concourse C,
Concourse D and Terminal 3 Arrivals Unit 3 are expected to re-open under phase three. In more good news, Dubai
Airports welcomed the resumption of scheduled operations by 13 international carriers at DXB in July. While more foreign airlines are expected to join in the coming weeks and months, Dubai International-based
Emirates
and flydubai have boosted their schedules. “We have ensured everything is
in place to welcome airlines from around the world back to Dubai as a growing number of bilateral agreements between countries conclude to facilitate the opening of borders and the gradual return of traffic,” according to Paul Griffiths. «
DXB – Dubai, AE
28 TRBUSINESS
AUGUST 2020
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