IRAQ. Iraq Duty Free has had its exclusive duty free contract at Baghdad and Basra airports extended by ten years until 4 March 2029. The current concession was due to expire on 4 March 2019.
The contract was awarded by the Iraqi Civil Aviation Authority and Ministry of Transport to Iraq Duty Free’s parent company Financial Links.
Managing Director Ahmed Kamal said that the retailer will pay a “significantly increased” concession fee from the previous 8% of sales. Specific details on the new fee structure are not being revealed. Additionally, Iraq Duty Free has agreed to refurbish the stores and to invest in key terminal improvements and facilities.
Kamal told The Moodie Davitt Report: “We are delighted to have our contract extended and are planning to invest heavily in a world-class offer.”
As revealed recently by The Moodie Davitt Report, Iraq Duty Free – the exclusive duty free retailer at Iraq’s major airports of Baghdad, Basra and Sulaimaniyah (the latter operated under a separate contract) – posted +24% sales growth year-on-year to late September, including +29% at Baghdad International.
The retailer recently renovated the shops in the third terminal at Baghdad International Airport, adding 608sq m to the former 1,626sq m of retail space.
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