DAA and Aer Rianta to spend $50m revamping duty-frees
Irish group, which owns 20% of Dusseldorf Airport, runs outlets in eight countries
ARI runs airport retail businesses in eight countries across North America, the Middle East and Asia as well as The Loop outlets in Dublin and Cork
Dublin Airport Authority’s global duty free arm, Aer Rianta International (ARI), and its partners, plan to spend close to $50 million (€46m) on upgrading their stores over the next few years, according to its chief executive, Jack MacGowan.
The company runs airport retail businesses in eight countries across North America, the Middle East and Asia as well as The Loop outlets in Dublin and Cork. It also owns 20 per cent of Dusseldorf Airport. Mr MacGowan said this week that it will invest $50 million (€46 million) in these businesses over the next few years in a drive to boost retail and service standards across its operations.
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“Cyprus will be planned early next year,” Mr MacGowan said. Last summer, Aer Rianta International bought out its partner in CTC-ARI, which operates the retail business in the island’s two principal airports, Larnaca and Paphos.
ARI’s partners in its various operations are likely to invest alongside the Irish company in developing its various airport retailers.
The company earned profits of €18.1 million last year, down from €29.4 million in 2013, when it booked more than €17 million in once-off gains.
Mr MacGowan said that ARI is on track to double profits by 2017.
Turnover at the two Irish airports, including retail and food and beverage sales by concessionaires, was up 6 per cent at €227 million.
In March it opened a newly refurbished store in Dublin Airport’s terminal one.