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Concessions revenue drives growth at Los Angeles
Duty-free sales grew 58.2% at Los Angeles World Airports last year while passenger numbers grew 5.4%
Los Angeles World Airports (LAWA) has reported a strong financial performance for its four airports in 2005, with commercial revenues boosted by a 5.4% increase in total passenger traffic, to 63.8m. The company reported that concession revenues at Los Angeles International, Ontario International, Palmdale Regional and Van Nuys airports fuelled growth in operating income of over 5%, to $574m.
Duty-free sales fared particularly well, growing by 58.2% in the year, said LAWA, with retail spending increasing "in virtually every category". Revenue from food and beverage outlets, car rental, car parking and luggage carts also increased, the company said.
(Source: Duty Free News International - January 24, 2006)
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