NEWS ROUND-UP 2020 Summit of the Americas will not go ahead
IAADFS and ASUTIL have cancelled the upcoming Summit of the Americas (30 March-2 April) amid the ongoing uncertainty surrounding the spread of Covid-19. The decision to cancel was made by
IAADFS’ Board members. The event was due to return to the Hyatt
Regency Orlando, before moving to Palm Beach Florida in 2021.
IAADFS and ASUTIl communicated the decision, made after careful consideration, to association members, trade show exhibitors and other stakeholders based on information about Covid-19 from the WHO and the US Centers for Disease Control and Prevention, among others. “We could have waited another week,
but that would have been wrong,” IAADFS President and CEO Michael Payne told TRBusiness at the time the news broke. A statement read: “The duty free and
travel retail industry is a vibrant and close- knit community that is dependent on international travel, and the associations’ priority is to always act in the best interests of all of their partners. “The ongoing spread of Covid-19
Groupe ADP takes 49% stake in GMR
The operator of Paris’ airports, Groupe ADP, will take a 49% stake in the airports division of India’s GMR Infrastructure Limited (GIL) in what the companies call ‘a strategic partnership’. GIL has signed a Share Purchase
Agreement pursuant with Groupe ADP, which will take a 49% stake in GMR Airports Limited (GAL) for approximately INR107.8bn/$1.5bn, valuing GAL at INR220bn/$3bn. As reported last month, GAL signed
a concession agreement with Kannur International Airport Limited (KIAL) to develop, operate, maintain and manage the duty free outlets at Kannur International Airport on an exclusive basis. This was the first duty free concession
outside of GMR’s pre-existing airport portfolio, which includes Indira Gandhi International Airport in New Delhi, Hyderabad’s Rajiv Gandhi International Airport in addition to Mactan-Cebu International Airport in partnership with Megawide in the Philippines.
has resulted in mounting concern over health safety, along with increased travel advisories and government health warnings – including the State of Florida’s 1 March declaration of a public health emergency. It
has become clear that the most responsible path forward is to cancel the 2020 Summit of the Americas. “IAADFS and ASUTIL regret that they
have had to come to this decision, and they appreciate the understanding and the ongoing support that their members, exhibitors, and attendees have shown for the 2020 Summit of the Americas.”
Lagardère TR sales reach $4.8bn in 2019
Accelerated growth of +6.3% on a like-for- like basis pushed Lagardère Travel Retail’s sales to €4,264m/$4,775m in 2019, full- year results show. The performance benefitted from
a favourable 5.8% jump in like-for-like revenue (+17.8% consolidated) in the fourth quarter to €1,117m/$1,251m, fuelled by dynamic performances in EMEA (excluding France), China (Wuhan store pictured right) and North America. Asia Pacific again proved lucrative in full-
year 2019, with a 7.2% increase in business borne out of growth in China (Mainland and Hong Kong), which has reaped the benefits of new openings and modernisation activities over the past couple of years. EMEA grew by 6.9%, spurred on by
duty free and travel essentials operations at airports in Rome, Venice and other regionals, plus Romania, Spain and Portugal.
Ongoing expansion in Africa and a buoyant performance in the Middle East coupled with a 2.9% lift in the North America business reflected strong travel essentials and foodservice operations, in spite of the impact on Canadian airport traffic owing to US-China trade tensions. On the other hand, higher growth for the
travel retailer was offset by political unrest due to strikes and rioting in France and Hong Kong, respectively, and a contraction in business in the Pacific.
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