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The biggest airport operator gets rid of Duty Free

The biggest airport operator gets rid of Duty Free

BAA, the biggest airport operator in the word, which is included in Spanish construction group Ferrovial, is going to sell store chain World Duty Free to franchise, as Reuters reports. The amount of transaction estimates at one billion dollars. Today, the company chooses investment bank, which will sell.

BAA is intended to focus on the modernization of its airports, including Heathrow airport in London. Recently, the company receives complains from passengers concerning delays of luggage and from trade unions regarding conditions of work.

Among possible sellers of World Duty Free, which owns 65 stores with cumulative annual receipt 300 million pounds ($615 mln), are NM Rothschild, Citigroup, Dresdner Kleinwort and Credit Suisse.

Ferrovial Company bought the British airport operator in 2006 for 10 billion pounds during dissocial takeover. After that, Spaniards claimed that the company may refuse to construct one more terminal in Heathrow airport.


 

 


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