ARI records strong 2023 with several major developments completed

By Benedict Evans |

“Our performance in 2023 signals our intention to seek growth in key markets in the coming year,” Ray Hernan, CEO of ARI.

Aer Rianta International (ARI) has reported a 13.9% increase in revenue for 2023 when compared to 2022, achieving a managed turnover of €1.24bn (£1.06bn).

The travel retailer, which forms part of the state-owned daa Group, headquartered at Dublin Airport, experienced strong growth across its global operations.

These include direct or indirect interests in 14 countries across North America, Europe, the Middle East; minority shareholdings in Düsseldorf Airport in Germany, and Larnaca and Paphos airports in Cyprus.

ARI is also responsible for running the retail operations in Ireland’s Dublin and Cork airports.

Ray Hernan, CEO of ARI, said in a statement: “2023 has been a very successful year for ARI, with significant growth across our global estate.

The remarkable performance across all our locations, many of which achieved record-high sales, is a testament to our colleagues and teams in each location. It is their continued dedication to improving the passenger journey and providing exceptional retail experiences for travellers that has led to such a resounding success.”

Market Expansion

Significant performance improvements were noted in Dublin and Cork airports, with record passenger numbers, while ARI’s joint venture with ANA at Portugal Duty Free traded ahead of plan in its first full year of operations under ARI.

ARIME (ARI Middle East), which comprises businesses in Bahrain, Cyprus, Lebanon, Oman, Saudi Arabia and UAE, recorded a strong year despite regional challenges.

In particular, its retail operations at Cyprus’ Larnaca and Paphos airports performed ahead of 2019 levels, with turnover exceeding €100m (£85m) for the first time.

New Developments

The implementation of a new stateof-the-art store at Zayed International Airport in Abu Dhabi was completed in November 2023 with a focus on FAWJ.

ARI made note of the rebranding of the retail area at YUL Montréal-Trudeau International Airport to Montréal Duty Free, as aRI North America celebrated its 25th anniversary.

Further, a stand-alone duty paid store in partnership with Chanel was opened in September 2023 at Vancouver International Airport, and a new contract in Edmonton, won in 2023, opened in January 2024.

Strategic Focus

The travel retailer noted recovery across its Canada operations had performed admirably despite the lack of high-spending Chinese passengers.

Elsewhere, ARI highlighted a strong year for its joint venture operation at Indira Gandhi International Airport Delhi, India where ARI holds a 33.1% stake.

ARI’s operations at the two airports in Montenegro, Podgorica and Tivat, continued to trade profitably despite the lack of Russian and Ukrainian passengers.

“We remain focused on developing plans for future growth. Our performance in 2023 signals our intention to seek growth in key markets in the coming year, while also maximising and delivering on our commitment in our current operations,” noted Hernan.

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