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IN THE NEWS
The countdown to the 2017 IAADFS Duty Free Show of the Americas in Orlando continues.
Following a “tough start” to the year, Dufry ended 2016 with nearly $8 billion in sales and profit up by more than 28%, all while delivering on its main goals, says CEO Julian Diaz. Today’s lead story, page 1.
United Airlines is discontinuing its inflight duty free sales, the last of the big three U.S. carriers to do so. Page 1.
In a deal worth about US$620 million, Delta Air Lines has completed the acquisition of another 32% of Grupo Aeromexico, bringing its shareholding to 36.2%. Both carriers had to give up slots in the U.S. and Mexico to receive regulatory approval. Page 2.
Three European companies won concessions to operate four Brazilian airports in the latest round of privatization tenders in Brazil. Page 2.
The expected rush of American tourists to Cuba may have been overestimated, at least at this time. Four air carriers are cutting back or canceling air service to Cuba, citing overcapacity and competition. Page 2.
San Francisco International Airport – a key gateway to China and the rest of Asia– this week has begun the Request for Proposal process for the coveted duty free and luxury stores leases at its International Terminal. More details on page 4.
Actium and its joint-venture partner, Panama-based St. Honoré, have acquired the Cartier Boutiques in St. Maarten and St. Bart’s. Page 2.
Jamaica has announced a major initiative to focus on cruise development and plans to transform Kingston into a major port destination, said Jamaica Tourism Minister Edmund Bartlett during a presentation at SeaTrade2017. TMI was there. See full feature on page 3.
Supply Side Special Feature
Newly merged WEBB Banks leverages its scale and experience to grow in the region. Robert Bowman and Andy Consuegraspeak with TMI’s Michael Pasternak about how they see their newly merged company bringing more value and service to their customers. WEBB Banks is now the largest spirits and wines distributor in the Caribbean, North Atlantic islands and Central America.
“We’ve created a foundation for sustained growth going forward,” said Consuegra. See full story, page 4, Inside Insider.