TAV expands into US market with duty free store

An affiliate of Turkish airport operator TAV Airports Holding (TAV) has won a 10-year tender to operate duty free shops at Houston George Bush Intercontinental Airport in the US state of Texas. TAV announced on its website on Friday that ATa Duty Free, a joint venture of TAV has been awarded the tender for the 10-year management of duty free shops based on a 700-square-meter area at the Houston George Bush Intercontinental Airport.

Having served more

An affiliate of Turkish airport operator TAV Airports Holding (TAV) has won a 10-year tender to operate duty free shops at Houston George Bush Intercontinental Airport in the US state of Texas.

TAV announced on its website on Friday that ATUuml Duty Free, a joint venture of TAV has been awarded the tender for the 10-year management of duty free shops based on a 700-square-meter area at the Houston George Bush Intercontinental Airport.

Having served more than 41 million passengers in 2014, Houston George Bush is the 11th largest airport in the US, launching flights to more than 170 destinations.

TAV Chairman Sani Iener addressed the importance of expansion via a statement on TAV’s web site: quotWe won the tender for the duty free operations of Houston George Bush [Intercontinental] Airport for 10 years as a Turkish brand after fierce competition in the US.

The success we achieved is another indicator of our significant industrial growth. The terminals will soon be expanded at Houston George Bush [Intercontinental] Airport, which is the 11th largest airport in the US in terms of passenger numbers.

I would like to congratulate all of our employees who contributed to this success.

According to the statement, ATUuml was awarded the tender after a strong competition with prominent international brands such as Duty Free Americas, Metalsmiths Sterling, Dufry, Travel Retail Group and Prestige Duty Free.

ATU operates duty free operations at Istanbul’s Atatuumlrk, Ankara’s EsenboIa, Izmir’s Adnan Menderes and Alanya’s GazipaIa airports in Turkey, as well as others in Georgia, Macedonia, Tunisia, Latvia, Oman and Saudi Arabia

Meanwhile, Malaysia Airports Holdings, which manages and operates 39 airports mostly in Malaysia, said on Friday it has raised 13 billion ringgit — $353.5 million — through a rights issue, its first since listing in 1999.

The proceeds will be mainly used to repay the loan secured to fund its purchase of the remaining stake in the companies that manage and operate Sabiha Goumlkccedilen International Airport in Turkey, it said in a press statement.

ank CIMB and Maybank are the joint principal advisors, joint managing underwriters and joint underwriters for the rights issue.

JPMorgan is the joint underwriter, according to Malaysia Airports.

SOURCE: TODAY’S ZAMAN