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The year may be coming to a close, but news that impacts the travel retail industry continues to develop at a very fast pace.
In today’s issue, TMI looks at Advent International‘s sale of AERODOM, the company that operates six airports in the Dominican Republic, to Vinci Airports, the airport subsidiary of French concessions and building company VINCI Group. Page 1.
In Argentina, the new government announced the end of restrictions on the buying and selling of dollars, among other key fiscal and business provisions. Less than a week after taking office as president after narrowly beating incumbent Cristina Fernandez in a run-off election, Mauricio Macri has lost no time beginning to reverse the currency controls, trade restrictions and subsidies implemented by his predecessor. John Gallagher reports. Page 4.
Developments from the thaw in relations between the United States and Cuba are also accelerating. On Wednesday evening the US and Cuba reached an agreement to resume commercial air travel between the two countries for the first time in 50 years; while last Saturday, Dec. 12, Los Angeles International Airport and American Airlines celebrated the inaugural charter flight from the West Coast to Havana – the first since the White House eased travel restrictions to Cuba earlier this year. Even the mail is moving. Last week, the U.S. Postal Service and Cuba agreed upon a pilot program to send mail directly instead of routing it through a third country. See stories on pages 1 & 2.
PEOPLE. Erik Juul-Mortensen has been re-elected as president of TFWA for 2016, and announces the launch of a strategy review to plan for the future. Page 2.
William Grant & Sons CEO Stella David is stepping down, to be replaced by the current CCO. Page 1.
Also: SSP America adds industry leader Bob Stanton to its development team, Sylvia Sulkes joins Distell. Page 4.
SUPPLY SIDE. Brown-Forman celebrates Frank Sinatra’s 100th birthday with limited editions and global promotions. Page 3.
Bacardi highlights its premium rums at San Juan International Airport with Dufry. Page 4.
Luxottica, Marcolin announce new sunglasses license renewals. Page 3.
Canada’s Frontier Duty Free Association is moving to new offices. See page 4.