NEWS ROUND-UP Fraport commences 40-year Greek airports’ concession
Fraport Greece, which is 73.4%-owned by airport operator Fraport AG and 26.6% by Copelouzos Group, has commenced the 40-year concession for managing and developing 14 regional airports on the Greek mainland and holiday islands.
The mainland airports include Aktion (PVK), Kavala (KVA) and Thessaloniki (SKG), Greece’s second largest city. The eleven island airports are located in
Kerkyra/Corfu (CFU), Chania/Crete (CHQ), Kefalonia (EFL), Kos (KGS), Mytilene/ Lesvos (MJT), Mykonos (JMK), Rhodes (RHO), Samos (KGS), Santorini (JTR), Skiathos (JSI) and Zakynthos (ZTH). Following the operational transfer of
DFA’s San Ysidro store slated to open in 3 years
Duty Free Americas (DFA) will take a meeting this month with the General Services Administration (GSA) at the Port of San Ysidro to discuss the finer details of its huge multi-level, multi-use facility it plans to open on the US side of the border with Mexico, in place of its former UETA flagship. The new project, which saw the closure
of its UETA store in the early part of last year, is expected to be complete within three years, says Chief Operating Officer and Chairman of Duty Free Americas, Simon Falic. “We took down the building, and they’re
now building the infrastructure around it,” Falic told TRBusiness at the end of March. “We’re an integral part of the whole process…We’re estimating that it will take less than three years to complete.” Although the size of the building and the
exact components are yet to be finalised, DFA is aggressively pursuing the ‘maximum amount’ of retail floor space. The new store will take advantage of
an improved flow of traffic at the border crossing following the expansion of the San Ysidro port of entry between Mexico and the US, phase one of which was completed in 2014.
the airports, Fraport Greece has now paid the upfront concession fee of €1.234bn ($1.31bn), which is said to be the biggest concession fee in Greece’s history, to the state-owned Hellenic Republic Asset Development Fund (HRADF). Along with this upfront fee, an annual fixed
concession fee of €22.9m will be paid to the Greek State, as well as a variable annual fee based on 28.5% of Fraport Greece’s yearly operational profit (EBITDA). However, the actual ownership of the
airports is retained by Greece. As reported, Hellenic Duty Free Shops (a Dufry operation) and Fraport Greece signed a
An artist's impression of the new Thessaloniki Airport to be built by Fraport.
30-year contract covering 14 Greek airports at the end of March this year. Both companies say that they also
envisage an important expansion of the current retail space resulting in more than a doubling of the current shop area of 5,000sq m to more than 12,000sq m. As the concession agreement between
the Greek State and Fraport Greece has now commenced, the retail agreement is now also in effect. [For more details on this subject refer to
www.trbusiness.com.]
Lagardère TR unveils all-star lineup at Prague T1
Aelia Duty Free has opened its latest next-generation walkthrough concept at Prague-Václav-Havel Airport Terminal 1 in the Czech Republic. As reported by TRBusiness, Lagardère
Travel Retail outbid Dufry to secure the duty free and fashion contract in November, which covers nine stores – eight selling liquor, tobacco, perfumes & cosmetics and gourmet food; and one dedicated to
fashion goods. The 1,400sq m store, located in the non-
Schengen zone, pairs local merchandise and speciality retail with a stellar line-up of international brands across categories including perfumes & cosmetics, wines & spirits, confectionery, electronics and gifts. Segmented zones are dedicated to
local sense of place concepts featuring specialities such as herbal liqueur Becherovka, traditional Czech chocolate wafers Kolonada, and a new gastronomy category selling salamis, cheeses, jams and honey. Aside from existing brands Dior,
Chanel, Hermès and La Prairie, the walkthrough store also includes new perfumes & cosmetics brands La Mer, MAC, Bobbi Brown, Jo Malone and Benefit.
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