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Dufry shares drop, Lotte Shopping gains as Incheon Airport revenues soar

25-Jan-2011

Shares in airport duty free operator retailer, Dufry, dropped 0.8% yesterday. The company operates two stores at Moscow Domodedovo International Airport, the scene of a suspected terrorist attack yesterday.

Aer Rianta International operates the airport's Runway Duty Free Domodedovo shopping arcade in partnership with a leading Russian manufacturer of souvenirs "Art Alliance".

Elsewhere, Korea's Lotte Shopping Co gained 2.5% yesterday. The rise follows reports in the Chosun Ilbo newspaper this week that the shopping and dining complex at Incheon International Airport became the highest-earning single commercial facility in the country last year, taking the place of the main branch of Lotte Department Store, which had been the leader since 1980.

According to figures released last week, the airport's duty free shops, restaurants and other facilities posted combined sales of KRW1.6 trillion (USD1.4 billion) in 2010, slightly ahead of Lotte's main branch with KRW1.54 trillion.

The airport's commercial complex saw its sales soar 20%, reflecting rising passenger traffic. The airport's CEO, Lee Chae-wook, told Chosun Ilbo: "The result stems from the drastic cut in immigration control queues, which enabled travelers to enjoy more time shopping. We are a close third in the world in terms of sales after London Heathrow and Dubai, and our goal for this year is to become number one."

Selected airport suppliers daily share price movements (% change): 24-Jan-2011

Airport Suppliers


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