Aer Rianta International (ARI) has reported a 13% year-on-year rise in revenue in 2024, with managed turnover hitting €1.4 billion/$1.5 billion.

In a statement, the Dublin-headquartered travel retailer – part of state-owned daa – attributed the performance to rising passenger traffic and spending, with growth achieved across its markets.

Ray Hernan, CEO, ARI commented: “2024 delivered another strong sales and profit performance for the business, further strengthening our balance sheet and providing the platform to seek new growth opportunities across our core markets of Europe, Middle East and North America.

“As in 2023, several business units achieved historically high turnover and record levels of profitability, and this is largely due to the exceptional work of our teams across the global estate.”

The company said the success is underpinned by its partnership with airports, joint venture stakeholders and brands in a year in which it retained and extended contracts across several operations.

At its Dublin and Cork Airport operations, ‘The Loop’ rebranded to ‘Dublin Airport Duty Free’ and ‘Cork Airport Duty Free’, with detailed planning underway for a full refurbishment of Terminal 1 at Dublin Airport expected to take place later this year.

Portugal Duty Free marked its second year of operations in 2024 with ‘sustained growth in turnover’ and the business continuing to trade ahead of plan – click here for detailed on-location reports from Lisbon following the recent inauguration of the refurbished Portugal Duty Free outlets at Lisbon, Faro and Madeira Airports.

Ray Hernan, CEO, ARI: “I am proud of the commitment and resilience of our teams across our global business units, who continue to grow in the face of challenging regional circumstances.”

Elevated L&T allowances boost Muscat arrivals

In Montenegro, the businesses at Tivat and Podgorica Airports ‘continued to trade profitably’, said ARI, despite the impact of geopolitical conflicts on the passenger profile.

In North America, Aer Rianta International North America (ARINA) experienced ‘solid growth’ in 2024, with plans finalised for the refurbishment of the main retail area at Montréal-Trudeau International Airport to commence later in 2025, as reported by TRBusiness.

Newly refurbished shops at Edmonton Duty Free (see below) unveiled in January this year after opening in January 2024.

ARI Middle East (ARIME), which trades in Bahrain, Cyprus, Lebanon, Oman, Saudi Arabia, and UAE, enjoyed ‘a strong year’, despite geopolitical turbulence and uncertainty.

The operation at Riyadh’s King Khalid Airport Terminal 5 domestic terminal progressed solidly, while Muscat Duty Free returned strong profit boosted by higher liquor & tobacco allowances at the expanded arrivals duty free store.

In Saudi Arabia, the TRSS joint venture at Zayed International Airport marked its one-year anniversary in November and ‘delivered strong results’ in 2024, with ARI noting its pleasure at the performance of an operation that continues to enhance its retail proposition with the strong support of the airport’s management.

Elsewhere, retail operations at Larnaca and Paphos Airports in Cyprus again delivered turnover exceeding €100 million with a ‘healthy profit’.

ARI wrapped up its operations in Qatar in February last year following a decision to bring all liquor distribution ‘in-house’.

The company remains a shareholder in Beirut Duty Free, where operations have been challenging due to the Israeli-Gaza conflict.

The joint venture at Delhi International Airport produced record sales and growth in passenger average spends, particularly in the departures store.

This has benefitted from an uprated beauty offer and an increase in local products.

“We are keen to continue to build on the successful performance of the past few years for ARI,” added Hernan. “Our focus is on enhancing the passenger experience across our existing estate, while also pursuing new business opportunities across key markets. We have the strategic vision and a superior retail proposition to deliver this growth.

“Delivering on our brand expression, Joy On Your Way continues to be a defining factor in how we do business, and it is important to our success. We bring an energy to the industry that is unmatched, coupled with over 75 years of travel retail expertise, to continually push boundaries and raise the bar.

“I am proud of the commitment and resilience of our teams across our global business units, who continue to grow in the face of challenging regional circumstances. Remaining agile and adapting to the changing needs of passengers is crucial to our continued success – but it is what we do best.”