Aer Rianta International (ARI) reports today that Vienna Airport-based travel retail operator Saveria has bought out its 70% shareholding in the Aer Rianta International Sardana Jfk Inc duty paid joint venture at New York JFK Terminal 4, as well as its stake in the fashion operation at Boston Logan International Airport.

ARI confirmed today that the landlords at both airports have given consent to the sale and the new company name at JFKT4 and Boston is Saveria USA, Inc. ARI?s Americas’ division operates stores in its core duty free business at Montreal and four other Canadian airports and at Grantley Adams International Airport in Barbados.

Saveria is an Austrian company based at Vienna Airport which belongs to the Sardana Group which was founded by owner Rakesh Sardana in 1983. The Group operates over 50 outlets of speciality retail representing a portfolio of luxury and premium brands both at Vienna Airport and in downtown Vienna.

Both Aer Rianta International and the Sardana Group have parted in the US on very good terms and add that they look forward to working together in future.

Background: The two partners opened their New York JFK T4 operation in 2003 with 12 specialty retail stores and added to this with a new operation at Boston Logan International Airport after winning a five-year fashion contract in 2007 and opening it in 2008.

The New York JFKT4 operation is the most developed of the two locations, featuring several offers which until now have operated under the ARI ‘Runway’ shopping brand. These have included: Runway NY – women’s & men’s apparel & accessories; Runway Fashion East – fashion & accessories; Runway Delight East & West – confectionery; Runway Voyager – leather bags, luggage & accessories; Runway Fashion West – Hugo Boss, Guess, Lacoste, Timberland; Runway Toys; and Runway Exclusive – Ferragamo, Hermes and Zegna.

ARI and Sardana have experienced mixed trading fortunes at New York JFKT4 in particular, with various periods where the strong currency advantages have seen UK and Irish visitors flocking to New York on shopping trips. But there have also been other trading phases where the business has been adversely impacted by currency disadvantages and certain other events such as LAGs restrictions.

ARI originally entered the North American duty free market in 1998 when it purchased the duty free division of United Cigar Shops (UCS) in Canada. ARI (North America) Inc was created as a subsidiary to manage this business at (the then) two Montreal airports and other Canadian airports of Ottawa, Edmonton and Winnipeg.