NORWAY. Avinor Group has reported a +4.4% year-on-year increase in duty free revenue at its airports in 2017, to NOK2,663.2 million (US$337.56 million).
In the fourth quarter, duty free income to the airport group rose +2.8% to NOK640.8 million (US$81.4 million) from the Travel Retail Norway-Gebr Heinemann-managed stores.
Click on image to enlarge
Group operating income in Q4 2017 amounted to NOK2,814 million, a +1.1% year-on-year increase. That figure is lower than the passenger traffic increase in the quarter, which Avinor attributed to the fact that the income in Q4 2016 was influenced by through-invoicing of costs related to the construction of new terminals at Oslo and Bergen airports.
Traffic at Avinor’s airports increased +4.1% in 2017. At Oslo Airport, traffic was up +6.6%, while other airports saw overall growth of +1.6%.
Avinor CEO Dag Falk-Petersen commented: “2017 was an important year for Avinor, as we completed major investment projects. The terminal extensions in Bergen and Oslo were completed on time and within budget, and we are very pleased to provide the service airlines and travellers expect from us.”
Avinor said it expected strong traffic growth in the coming years. “Avinor is continuing to pursue activities and investments that develop our extensive network of airports, thus facilitating a good range of regional, national, and international aviation services,” it said.
“The savings forecast of the group’s modernisation programme is in excess of targets. The goal for 2018 is cost savings of NOK600 million per year, which Avinor expects to achieve by a good margin.”
