Fraport buys Airmall in the US

By Doug Newhouse |

The Fraport Group announced today that it is buying 100% of AMU Holdings which owns the Airmall USA airport-concession developer in North America.

Airmall currently manages retail and F&B space at the US airports of Baltimore (BWI), Boston (BOS), Cleveland (CLE) and Pittsburgh [pictured above/below], with a collective 70m passengers using these airports each year. It also manages arround 34,000s m (366,000sq ft) of space in passenger terminals at all four airports  comprising approximately 270 retail and F&B outlets operated by international, national, regional and local tenants.

 

Fraport AG’s Executive Board Chairman Dr. Stefan Schulte said: “The retailing business at our Frankfurt home base has always been a growth engine and we have repeated this success story consistently over the years at our other Group airports worldwide. With the acquisition of Airmall, we have established a promising platform for developing our US business in the future.”

 

BAA – as it was once known – was originally a major investor in the Airmall company.

 

BOLD MOVE BY FRAPORT
Dr. Matthias Zieschang, Fraport AG’s Executive Board Member for Finance (CFO), as well as acquisitions and investments, added: “On the one hand, Airmall has developed a solid business at the four US airports, whereby investing makes good business sense. On the other hand, Airmall will give us a presence at these four airports for further expanding our brand reputation in the US market. This will give Fraport the right prerequisites for further growth on the continent and in other parts of the world.”

Fraport said today that Airmall will keep its headquarters in Pittsburgh International Airport and the addition of the company should help to provide new two-way synergistic benefits.

The company, which already manages airports successfully in Antalya, Varna and Lima, said: “Both Airmall and Fraport are dedicated to enhancing the passenger experience at airports. Thanks to its successful concessions model in North America, Airmall has one of the highest per-passenger spends on the continent.

“Furthermore, Airmall offers substantial expertise in the US marketplace and industry leadership as an innovator. For example, the company was honoured in the 2013 ARN Best Airports and Concessionaires Awards (by Airport Revenue News) for best practices in concessions design, customer service, unique services, and overall concessions programmes.

“The craft brew pubs at Airmall’s CLE and BWI airport malls were recently recognized in GQ Magazine’s 2014 America’s Best Airport Beer Bars ranking.”

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