comes to you as we return from a visit to Frankfurt Airport, home to one of Europe s most ambitious airport expansion projects.

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1 Issue 389 The Week in Travel Retail Days FRIDAY SATURDAY SUNDAY MONDAY TUESDAY WEDNESDAY THURSDAY 31 MARCH 2011 WELCOME to The Moodie Report 7 Days, writes Dermot Davitt. This issue comes to you as we return from a visit to Frankfurt Airport, home to one of Europe s most ambitious airport expansion projects. Like a number of the region s leading hubs (with 53 million passengers, Frankfurt ranked behind only London Heathrow and Paris Charles de Gaulle in traffic terms in 2010), Frankfurt has developed via a series of bolt-on terminal extensions, with retailing and food & beverage often small in scale and fragmented. But next year s opening of the Terminal 1 Pier A+ extension looks set to launch a new era for commercial activities there. We had a preview of the new-look facility this week, and were deeply impressed. Pier A will house a single, centralised entry point that will take passengers into what s called the Atrium, spread over two levels, each catering for either Schengen or non-schengen passengers. Both levels will feature walk-through duty free, operated by Gebr Heinemann, and other F&B and speciality retail outlets tenders for which have concluded, with results due shortly. Fraport s 550 million investment will deliver maximum exposure of the commercial offer to passengers, and will enable the airport to deliver a far greater array of airside F&B (against today s under-catered airside offer) as well as more breadth in the retailing. Given the changes that Pier A+ will bring, it s a big challenge; but the opportunity is huge too. Around half of passengers will be travelling to non-eu destinations, bringing the core duty free offer and the enhanced luxury offer firmly into focus. The ambitious plans are also a testament to the changes that have taken place at Fraport in recent years. Today the company can boast a smart, creative commercial department which acts very much as a hands-on partner to concessionaires. Departments are not only responsible for managing the everyday processes of the airport, they are also charged with bringing life to the concessions that they oversee. With Category Management specialists responsible for every facet of the business, this is an airport authority bringing real understanding and insight to commercial operations a vital and welcome development. From an average retail spend of 3.02 per passenger in 2010, Fraport is now aiming for around 3.10 in 2011 and will drive towards 4 in the years ahead. With a series of major infrastructure investments, and the guiding hand of its creative commercial team, that forecast could be realised sooner rather than later. Image of the Week This lovely image of the Áreasoperated Aire Tapasbar captures some of the quality and breadth of offer on show at Alicante Airport s new terminal, opened last week. The 628 million terminal, which has capacity for 20 million passengers a year, features high-class retail and food & beverage executions from some of Spain s and Europe s leading concessionaires. FAST, FACTUAL, FREE PERSONALITIES OF THE WEEK Bill Maxwell: The hugely popular and influential Aer Rianta International (ARI) executive, for many years the company s Mr Russia and latterly its Senior Advisor to Qatar Duty Free, enters retirement this week. Maxwell has been a terrific asset to ARI, and a great servant to the industry, and we wish him well. Derek Larsen: As General Manager, Retail at Sydney Airport, Derek Larsen proved himself one of the industry s most astute, positive and challenging thinkers, as epitomised by his drive to raise the quality bar at the Australian gateway. Now he brings those values and skills to bear on a new role, heading The Nuance Group s Australian operations, a positive move and serious sign of intent from the leading travel retailer. QUOTE OF THE WEEK With this new policy, Sanya duty free store will welcome tourists from both home and abroad with a first-class shopping environment, rich commodities and brands, preferential duty free prices and superb customer service. China Duty Free Group President Lu Lu hails new regulations that allow Mainland Chinese domestic travellers to purchase duty free when they visit the company s Hainan travel retail operation. Page 1

2 BUSINESS NEWS CHINA. China s leading travel retailer, China Duty Free Group (CDFG), has welcomed last week s promulgation of a new offshore shopping policy for the resort island of Hainan, which will allow domestic travellers to shop duty free. The policy and its implementing rules were passed by the Ministry of Finance and the General Administration of Customs on 24 March. The company described the policy as another landmark event for Hainan as well as China. China Duty Free s Sanya duty free store is the only shop on Hainan currently qualified to implement the new policy, it added. CDFG President Lu Lu said: Establishing the Sanya duty free store not only effectively fills the gap in Hainan s topgrade tourist shopping market but also promotes Hainan s tourism infrastructure, gearing it to gain international recognition. With the new policy Sanya duty free store will welcome tourists from both home and abroad with a firstclass shopping environment, rich commodities and brands, preferential duty free prices and superb customer service. We are expecting mainland Chinese to buy duty free in our shop starting from 20 April, CDFG Marketing Director Antonio Hao told The Moodie Report. The 7,000sq m Sanya store features all major categories including perfume & cosmetics, jewellery, watches, clothing, leathergoods, sunglasses, travel accessories and Chinese/Hainan specialities. Duty free retail prices there are 10 35% lower than in domestic department stores and on a par with regional duty free pricing, the company said. For more on this story go to FRANCE. The Nuance Group has opened four new shops at Toulouse-Blagnac Airport, growing its operation to nine stores spread across 1,150sq m of retail space in both passenger terminals. The move is part of a major redevelopment and refurbishment project across the airport. The Nuance Group CEO Europe Andrea Belardini said: Our expansion at Toulouse-Blagnac Airport very much reflects and supports the airport s own ambitious growth plans, and ensures we have an outstanding retail experience in place across all of our stores to meet the needs of the increasing numbers of travellers using this airport. Having made our debut here just a year ago, we are pleased to be building our business further, and are proud to be an integral part of the improved airport terminal infrastructure, added Belardini. Nuance has expanded its Spirit of Toulouse concept, and incorporated a wider range of regional products within its 200sq m of floor space such as local food specialities, and a selection of over 90 different varieties of wines of all price points from the southwest of France. The store also launches the world s first Airbus shop-in-shop concept to travellers, featuring souvenirs and mementos of a key export from the city. The former location of the temporary Spirit of Toulouse store in the adjacent Terminal D has now been replaced by a children s fashion and toy shop, a new concept that was introduced to cater to the growing numbers of families using the airport. For more on this story including pictures go to Moodie Interactive: Click for the advertiser s website Page 2

3 FRANCE. Aelia has submitted an offer to The Nuance Group for its shares in Duty Free Paris, the joint venture company equally owned by Aéroports de Paris (AdP) and Nuance. Duty Free Paris operates fashion & accessories retail outlets at Charles de Gaulle and Orly airports. AdP and The Nuance Group have granted Aelia negotiation exclusivity for a period of two months, renewable once, during which Aelia, The Nuance Group and Aéroports de Paris can negotiate the terms of this possible acquisition, a statement from the parties said. Aelia manages the SDA joint venture with AdP for core-category duty free across the major Paris airports, and recently extended that deal until Duty Free Paris was created in early 2009 and operates around 25 fashion & accessories stores at Paris CDG and Orly airports. PARAGUAY. Shopping China is forecasting a major expansion in its travel retail business in 2011, with a sales target of at least +70% growth over last year. This will come amid an expansion of stores and introduction of new brands to boost to its current strong trading activity. Retail revenues for 2010 topped US$500 million for the first time in the history of the Paraguayan group, which operates four large shopping centres along the border with Brazil at Pedro Juan Caballero and Salto del Guairá in Paraguay, Puerto Aguirre in Bolivia and Chuy in Uruguay. According to Import Executive Felix Lugo, sales to its predominantly Brazilian clientele have been unaffected by the global economic downturn and are continuing their strong expansion. The strength of the Brazilian Real has further contributed to its strong results. With a strong focus on promoting world-famous brands, Shopping China leads on sales of fragrances, cosmetics and liquor. To maintain awareness among potential customers, Shopping China provides a week of sales offers twice a month, and promotes this by distributing over 10,000 leaflets throughout southern Brazil and Paraguay. TENDER & CONTRACT NEWS US. Hartsfield-Jackson Atlanta International Airport has issued a series of requests for proposals (RFPs) for over 150 food & beverage and retail units across the airport, including at the new Maynard H. Jackson Jr International Terminal. The RFP packages comprise 125 F&B locations and 27 retail units. Bids for F&B packages 1 through 5 will be accepted until 21 June, with a deadline for packages 6 through 9 on 24 June. The bid deadline for the retail packages is 27 June. A pre-proposal conference will be held on 5 April, with site tours a day later. For full details of all the packages to be offered at Atlanta go to Moodie Interactive: Click for the advertiser s website Page 3

4 FOOD & BEVERAGE & OTHER COMMERCIAL REVENUES ASIA PACIFIC. Sajibumi International and First Catering have launched a new 50:50 joint venture, Sajibumi First Catering Asia, targeting growth in airline and airport markets throughout Asia and the Greater Mekong Region. First Catering provides inflight and oilrig catering, and offers duty free concepts, cabin dressing and cleaning services to carriers. Sajibumi, which works in the contract food service sector, has airport concessions in Singapore, Malaysia and Cambodia. The companies said: This initiative will pair Sajibumi s wide experience in the region with First Catering s expertise in the airline services business, and provide a springboard to extend the partnership into other countries in the future. Initially Sajibumi First Catering Asia will focus on the airline catering business, but is poised to take advantage of Sajibumi s successful operations in Malaysia, Singapore and Cambodia, and explore other business opportunities in this rapidly expanding area of Southeast Asia. For more on this story go to INTERNATIONAL. Autogrill Group, through its subsidiary HMSHost, has extended its strategic agreement with Starbucks Corporation to open and operate Starbucks Coffee outlets at airports and motorways. Under the terms of the agreement Autogrill has renewed its exclusive contract for the management of Starbucks points of sale at US airports and highways for a further ten years, until Over the next ten years the agreement is expected to open 120 new Starbucks locations in North America operated under licence by Autogrill, in addition to more than 360 that Autogrill currently operates worldwide and which in 2010 generated total revenues of over US$450 million (over 340 million). The two companies will look at new development opportunities in the other countries where Autogrill operates. SPAIN. Leading Spanish provider of catering, retail and integrated services for travellers Áreas has launched 13 new stores (nine F&B outlets and four retail shops) at Alicante Airport s new terminal. With an investment of nearly 5 million and forecast revenue of 141 million over the next eight years (food concessions are for eight years, the other shops for five, both extendable), the company has increased space at the new terminal to 3,618sq m (3,285sq m for F&B and 333sq m for shops). Áreas President Pedro Fontana said: The launch of these 13 establishments in the new terminal at El Altet is an important milestone in our history because it ensures the company s presence in a very attractive location with great potential. The new terminal places Alicante on the map of world-class airports, and Áreas is proud of its contribution in this respect. Áreas is present in 19 Spanish airports, with 205 establishments both food service stores and shops and employs 174 people in El Altet. Moodie Interactive: Click for the advertiser s website Page 4

5 Chef Quique Dacosta, who has close ties to the Alicante region, was chosen by the company to lead Aire Tapasbar, a food & beverage concept that offers travellers Mediterranean cuisine made from local products, emphasising quality and affordability. The menu will include preparation times next to each dish. Products such as Jijona nougat, red shrimp from Denia and selected wines from the region are showcased in the menus and stores of the new terminal. Áreas said it tailored its store development to the specific passenger profile, and aimed at providing for the local travellers as well as foreign visitors, especially English families. RETAIL & COMMERCIAL SALES RESULTS Dufry net sales breakdown by region and by product category 2010 North America Source: Dufry South America 29% 27% By region 12% Europe 16% 7% 9% Africa Eurasia Central America & Caribbean Fashion, leather & baggage Watches, jewellery & accessories Tobacco goods Electronics 8% 10% Literature & publications 4% 3% 8% 12% Other By product 15% 23% 17% Perfumes & cosmetics Wines & spirits Confectionery, food & catering SWITZERLAND/INTERNATIONAL. Dufry last week announced a +9.7% rise in turnover to CHF2,610.2 million (US$2,867 million) in Turnover increased by +15% based on constant rates, of which organic growth accounted for 10.1%. New concessions (net) added 4.7%. The foreign exchange impact of translating into Swiss Francs was negative by -5.1%. Gross margin improved by 1.6 percentage points to 57.5% and EBITDA grew by +19.2% at constant exchange rates. When translated into Swiss Francs, EBITDA reached CHF343.1 million (US$376.8 million), up +13.9% compared to EBITDA margin improved by 0.4 percentage points to 13.1% versus 12.7% in Net earnings increased by +48.8% to CHF144.8 million (US$159 million). In absolute terms, gross profit in 2010 amounted to CHF1,501.9 million (US$1,650 million), up +13.0% from The continuation of global negotiations with suppliers, coupled with economies of scale, and the further development of initiatives started in 2010 as part of the Dufry plus One project, all contributed to the increase in gross margin, the company said. Dufry Group CEO Julián Díaz said: In 2010 we confirmed the strength of our business model combining a strong organic growth performance with its resilience based on our approach of risk diversification. Moodie Interactive: Click for the advertiser s website Page 5

6 Dufry key performance indicators 2010 Turnover (in CHF millions) We also generated a significant increase in profitability down to net earnings and re-launched the expansion of our business into new countries and channels. We are convinced that our current strategy will also be successful in the coming years and we will continue to improve top line growth and gross margin, as well as to leverage the company s cost structure. The outlook remains positive in general: global passenger growth in the short and medium-term is forecasted to be in the +4 5% range. We will dedicate all our efforts to grow organically over and beyond passenger growth by adding productivity gains, as well as to create new growth opportunities through acquisitions like we did in the past. EBITDA (in CHF millions)* Diaz noted that recent events have shown again the benefits of a diversified concession portfolio. Also, our higher exposure to emerging markets positions us well to benefit from the higher expected growth in these regions, he said. With more than 60% of our turnover stemming from emerging markets, we are determined to capture the positive momentum in those markets and we also have the expertise and capacity to grow our presence further. At the same time, our presence in the developed world is a helpful diversification. *before other operational result Net earnings (in CHF millions) For a sales breakdown by region and Dufry s planned retail projects for 2011, go to DATA ROOM PASSENGER TRAFFIC NEWS Adjusted net earnings without other operational result INTERNATIONAL. Scheduled international air traffic climbed by +6% year-on-year in February, according to the International Air Transport Association (IATA), but growth was slowed by the impact of political unrest in the Middle East and North Africa. IATA said: February demand growth was down significantly from the Source: Dufry +8.4% expansion recorded in January. The political unrest in the Middle East and North Africa during February is estimated to have cut international traffic by about -1%. As such it is responsible almost entirely for the slippage in passenger demand growth. IATA Director General and CEO Giovanni Bisignani said: Another series of shocks is denting the industry s recovery from the recession. As the unrest in Egypt and Tunisia spreads across the Middle East and North Africa, demand growth across the region is taking a step back. The tragic earthquake and its aftermath in Japan will most certainly see a further dampening of demand from March. The industry fundamentals are good. But extraordinary circumstances have made the first quarter of 2011 very difficult. February passenger load factors stood at 73.0%. On a seasonally adjusted basis they have lost 2.2 percentage points on peak levels as capacity additions have consistently exceeded demand growth. By February 2011 air travel volumes were +16% higher compared to the low point reached in early 2009 and some +5% above the pre-recession peak of early Europe s carriers recorded +7.4% growth compared to February 2010 against a +9.8% increase in capacity. This was slower than the +7.9% demand growth reported for January showing the impact of fall off in trans-mediterranean traffic to North Africa due to the unrest in the region. Page 6

7 International air traffic development Feb 2011 & YTD 2011 Feb 2011 vs Feb 2010 YTD 2011 vs YTD 2010 Region RPK ASK Load RPK ASK Load growth growth factor growth growth factor Africa 1.3% +6.9% % +10.5% 65.0 Asia Pacific +3.0% +6.6% % +6.9% 76.7 Europe +7.4% +9.8% % +9.3% 73.3 Latin America +11.8% +12.9% % +12.6% 77.9 Middle East +8.4% +11.0% % +11.1% 74.2 North America +6.7% +11.9% % +10.9% 74.6 Industry +6.0% +9.3% % +9.2% 74.5 North American airlines reported +6.7% yearon-year growth for February and a capacity expansion of +11.9%. In recent months, the region s airlines have seen dampened demand due to several factors starting with disruptive winter conditions in December and January, followed by political unrest last month in the Middle East and North Africa, said IATA. As a result, there is a widening gap between supply and demand pushing the load factor down to 71.7%, significantly below the 82.2% recorded for the full year in Source: IATA Asia Pacific airlines reported a major slowdown to +3.0% growth, half of the +6.3% recorded for January. A capacity increase of +6.6% pushed the load factor down to 75.4%. Chinese New Year fell at the beginning of February, pushing some of the holiday traffic into late January. Middle East airlines saw demand growth fall from +12.0% in January to +8.4% in February. A capacity increase of +11.0% resulted in a load factor of 72.2%. Political unrest in Bahrain, Yemen and Syria is expected to have an impact on the region s markets in March. These three countries represent about 6% of Middle Eastern traffic and 0.3% of global capacity. Africa saw traffic fall by -1.3% compared to February Against a capacity expansion of +6.9%, load factors fell to 60.4%. Egypt and Tunisia account for 18% of the African market and 0.6% of worldwide capacity. Libya is a further 3% of the African market and 0.1% of global capacity. The impact of political unrest has been severe with absolute traffic (measured by RPKs) falling by -13.1% compared to January levels. Latin American airlines were least exposed to volatility in February. Passenger demand increased by +11.8%. This was virtually matched with a capacity expansion of +12.9% allowing the region s carriers to maintain the strongest load factor among regions at 76.4%. Bisignani said: The industry situation is volatile and we are watching higher fuel prices carefully. Capacity increases ahead of demand are bringing down load factors for both passenger and cargo operations. Demand is still supported by strong economic fundamentals. But with looser supply and demand conditions, it will be a challenge for airlines to recover the added costs of fuel. Our pathetic 1.4% expected margin for 2011 is under considerable pressure. Based on an average oil price of US$96 per barrel, IATA is forecasting fuel to account for 29% of average operating costs with a total fuel bill of US$166 billion. For every dollar increase in the price of a barrel of oil, the industry must recover an additional US$1.6 billion in added costs, said IATA. TRAVEL & TOURISM NEWS JAPAN. The impact on the travel industry and therefore travel retail from Japan s earthquake and tsunami and nuclear crisis continues to worsen. International Air Transport Association (IATA) Director General and CEO Giovanni Bisignani commented: Japan is an important link in global air transport. The US$62.5 billion Japanese aviation market represents 6.5% of worldwide scheduled traffic and 10% of the industry s revenues. A major slowdown in Japan is expected in the short term. And the fortunes of the industry will likely not improve until the effect of a reconstruction rebound is felt in the second half of the year. Designer Parfums, the licensee for AGENT PROVOCATEUR Parfum and the owner of AIGNER Parfum and JEAN-LOUIS SCHERRER Parfum, is seeking a Head of Export (based in the UK); an Area Manager for Mexico, Caribbean and South America (based in Miami); and an Area Manager for Asia, Australia and New Zealand (based in Hong Kong or Singapore). Please go to and click on the Jobs section. Page 7

8 Japan s 83 million passengers per year domestic market is the most exposed, IATA said. Internationally, the top international markets connecting to Japan include the US, China, South Korea, Taiwan, Hong Kong, Thailand, France, Germany, the UK and Australia. Travel retailers in Japan and those locations will be hit hard by the decline in travel to and from the crisis-ravaged country. The most exposed market to Japanese operations is China where Japan accounts for 23% of its international revenues. Chinese Taipei and South Korea are also heavily exposed with 20% of their revenues related to Japanese operations, followed by Thailand (15%), the US (12%), Hong Kong (11%) and Singapore (9%). France is the most exposed European market at 7%, followed by Germany (6%) and the UK (3%). The extent to which these travel markets weaken will be largely shaped by what happens to the Japanese economy, said IATA. Many economists are suggesting that once reconstruction begins the economy will rebound, but the length of the current downturn will depend critically on developments in the nuclear power situation. Leading Japanese travel analyst Travel Journal International (TJI) Online reported a series of other negative developments in the travel marketplace, both outbound and inbound. Guam (a DFS stronghold in travel retail) has reported a double-digit Top ten international air travel markets connecting to Japan Annual Annual Market passengers revenues US 9.2 million US$10.5 billion China 8.6 million US$6.5 billion South Korea 9.6 million US$3.1 billion Chinese Taipei 4.2 million US$2.3 billion Hong Kong 3.2 million US$1.9 billion Thailand 2.3 million US$1.6 billion France 1.0 million US$1.5 billion Germany 0.9 million US$1.5 billion UK 0.7 million US$1.1 billion Australia 1.3 million US$1.1 billion Source: IATA decline in arrivals from its largest tourism source market since the earthquake and tsunami struck. Japan generates some 80% of international arrivals to Guam. A similar pattern is likely to be seen for other short-haul destinations such as South Korea and Taiwan, TJI said. Hong Kong s Travel Industry Council reported that 238 groups with 2,853 participants had cancelled plans to visit Japan up to March 25. Still, it said that 51 groups with 1,251 participants have adjusted their itineraries to visit other regions such as Okinawa and Hokkaido. Towa Tours, an inbound specialist in Hong Kong, said that it is bracing for a -40% drop in inbound travel. Indonesia-based Avia Tour reported that consumers have been asking to change their travel plans from Japan or to other Japanese destinations amid the threats of radiation. More cancellations are expected following the government s latest travel advisory warning against non-essential travel. Taiwan s Tourism Bureau estimates a -20% plunge in arrivals from Japan during the coming three months, representing more than NT$1 billion in lost tourism income. Taiwan last year welcomed some 1.08 million Japanese visitors, making the country the second-largest source of travellers after China. South Korea, one of the largest source markets for inbound travel, has reported a decline in Japanese arrivals. The Korea Association of Travel Agents expects that in two or three months there will be fewer Japanese travellers as people even from unaffected regions will share the grieving sentiment and avoid unnecessary overseas travel. South Korean travel agents expect that local tourism will undergo a critical period over the next two or three months when they will have to secure new reservations by Japanese tourists. The Thai Travel Agents Association reported that some 70% of tours to Japan through May have already cancelled. Incentive groups in Malaysia, originally planning to travel to Japan, have changed their plans to other destinations due to the risk of being exposed to radiation. A major Singapore agency reported that 80% of the 1,000 clients scheduled to travel to Japan until mid-april have chosen to postpone their trips or switch to Hong Kong or other nearby destinations. Editor s note: The Moodie Report works closely with TJI Online, the largest English-language travel trade news source in Japan. Week in, week out, it provides timely and sharp analysis of the all-important Japanese travel market international and domestic. To subscribe please visit It comes with our highest recommendation. US (HAWAII). February visitor arrival and spending numbers, published this week by the Hawaii Tourism Authority, paint a robust picture for Hawaii s tourism industry. But this is all set to change following the Japanese earthquake and tsunami of 11 March and the subsequent nuclear crisis. Buoyed by a strong Yen, arrivals from Japan increased by +8.2% year-on-year in February to 102,906. For the first two months of 2011 Japanese arrivals gained +13.2%. Higher daily visitor spending (US$287 per person, from US$259 last February) and increased arrivals contributed to a +21.8% increase in total Japanese visitor spending to US$171.4 million. Total spending by Japanese visitors for the first two months of 2011 was US$349.3 million, up +27.7% year-on-year. Page 8

9 But those numbers will look very different in coming months as the Japanese nation comes to terms with a continuing catastrophe. Local reports suggest that Japanese arrivals to Hawaii have fallen by between -22% and -25% year-on-year since the earthquake. Hawaii Tourism Authority officials reportedly plan to spend US$3.1 million on a promotional strategy to offset the loss of Japanese visitors in coming months. For the full February statistics go to PEOPLE NEWS, JOBS, EVENTS & NOTICES AUSTRALIA. In a major appointment, The Nuance Group has announced that Derek Larsen is to become Chief Executive Officer, The Nuance Group (Australia) Pty Ltd. A well-known figure in the Australian airport retail industry, Larsen brings over 20 years experience to the position. He joins from Sydney Airport Corporation, where he held the position of General Manager, Retail for the airport s extensive retail-to-food & beverage operations. He takes up his new role on 16 September, Larsen replaces Jann Fisch, who will step down as CEO at the end of the year, having fulfilled a four-year commitment to supporting and growing Nuance s Australian business. INTERNATIONAL. The 2010/11 edition of the Airport Commercial Revenues Study, published by The Moodie Report in partnership with The S-A-P Group, is now ready for purchase. The study is designed to allow airports to benchmark their commercial performance against that of their peers around the world, and to give an accurate picture of the airport retail business today. The ACRS 2010/11 features data from airports of all sizes across the world, including details of spend per passenger in a number of commercial sectors, including duty free (and duty paid retail for intra-eu airports), food & beverage, other retail and currency exchange. The study also analyses details of dwell time and penetration rate, along with commercial management indicators such as concession structure and contract length. The result is a comprehensive study that offers users valuable, actionable data on today s airport retail business. To reserve a copy of the ACRS 2010/11, or for further details, please contact John Rimmer by ( John.Rimmer@ TheMoodieReport.com) or tel: +44 (0) IRELAND. Aer Rianta International (ARI) Group Retail Operations Director Nick Forbes is to leave the company for personal reasons, returning home to his native Australia. Forbes joined the company in November 2008 as a Director and served on the company s Board. He has also been a Director of a number of ARI s subsidiaries and associate companies, including Aer Rianta International (Middle East) WWL. In other ARI news, Garrett Coogan is named General Manager of Bahrain Duty Free, effective from the start of April. He was previously General Manager of Aer Rianta International s (ARI) operations at Moscow Sheremetyevo Airport Terminal D. ARI is exiting that business, which is now operational and has been taken over by Aerofirst. ARI is divesting its stake in Aerofirst, which it has held since Coogan replaces Steve O Connor, who is moving to India to become General Manager at Delhi Duty Free. He replaces Nick Goddard, who is returning to the UK for family reasons. Finally, ARI Senior Consultant Bill Maxwell retires from the business, effective today (31 March). For the past two and a half years he has been ARI-Middle East s representative in Qatar Duty Free, where he was Senior Advisor/ Consultant. For more details and comment go to SWEDEN. Inflight Service has appointed Björn Ulfberg (pictured) as its new Chief Executive Officer with immediate effect. He replaces Per Thelin, who has retired. Ulfberg has considerable experience in sales, marketing and general management across various international consumer and retail-oriented organisations, including Nokia, Duni, Findus, Gillette and Procter & Gamble. Thank you for your readership and support of The Moodie Report. Martin Moodie, Founder and Chairman Page 9