Bangalore International Airport Limited (BIAL), the operator of Kempegowda International Airport, Bengaluru (BLR Airport), has launched its hotly anticipated tender for a joint venture partner to establish, operate, maintain and manage duty free stores with BIAL, at the airport’s upcoming new Terminal 2.
The way the contract has been structured makes it one of the most compelling airport commercial opportunities of recent times.
The joint venture’s scope, which will benefit from a 15-year term, will not be restricted to core duty free operations. The joint venture company will also explore opportunities for luxury retail, food & beverage, and travel essential formats in both duty free and duty paid formats as appropriate, BIAL said.
The joint venture will be in line with BIAL’s recently adopted commercial strategy based on ‘trust, collaboration, and sharing of risks and rewards’. To ensure BIAL has equal ‘skin-in-the-game’ and equal risk-reward sharing, BIAL will be a 50% shareholder in the duty free joint venture company.
08/11/21 Martin Moodie/The Moodie Davitt Report
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