London Heathrow’s Retail Concessions Director, Brian Woodhead, stated that Heathrow's retail sales reached GBP1.5 billion (USD2.4 billion) in 2010, with the airport’s average passenger spend rising by 15% to GBP35 (Trend, 11-Feb-2011).
Heathrow retail sales hit GBP2.4bn
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Aeromexico: slightly higher 2017 capacity growth as confidence of Delta JV approval remains high
Mexico’s largest airline, Aeromexico, plans slightly higher capacity growth in 2016, mostly driven by added frequencies to its long haul markets in Asia and Europe. Its preliminary guidance shows an ASK increase in the low single digits versus 8% growth in 2016. Similarly to 2016, much of Aeromexico’s capacity should be deployed to international markets as the airline sheds three Boeing 777 widebodies and adds five 787-9s to its fleet.
Aeromexico and Delta continue to believe US regulators will approve their immunised cross-border joint venture by YE2016, and are planning to increase their combined daily flights between the two countries by 43% during the next two years. The joint venture is a major pillar of Aeromexico’s transborder strategy going forward as Delta prepares to exert more influence over Aeromexico’s strategy. Some of Aeromexico’s and Delta’s rivals are lobbying for the two airlines to relinquish more slots at Mexico City Juarez, which could become a factor in the government’s final decision.
In the near term Aeromexico’s outlook is relatively stable, despite continuing challenges from the depreciation of Mexico’s currency. The airline’s revenue generation for the 9M ending Sep-2016 was favourable, driven by increases in yields and load factors.
NOTE: This report was prepared before the DoT issued its decision in the Aeromexico-Delta joint venture
Avianca Holdings:under pressure in the region, but believes yield declines could stabilise in 2H2016
After recording sequential quarterly improvements from 4Q2015 to 2Q2016, the Latin American airline group Avianca Holdings believes that its yield performance should stabilise in 2H2016. However, despite improving trends on a sequential basis, Avianca’s year-on-year yield declines remain in the double digits, and currency fluctuations could affect its current outlook for yield stabilisation.
Although the airline group’s largest market – Colombia – is facing economic pressure the challenges are not as severe as Brazil’s dire economic circumstances, and at present Avianca believes that the Colombian domestic market and routes from Colombia to North America are beginning to recover.
The duration of a recovery in those markets remains unknown, and Avianca and its Latin American rivals continue to adapt to the overall weakness in the region. A major focus for all airlines in Latin America is decreasing costs, as yields and unit revenue remain under pressure. Avianca’s unit costs excluding fuel have also fallen in the double-digit range for the last three quarters, and the company has outlined a cost-cutting scheme to save millions annually by YE2018.