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| The Nuance operations at Antalya's Terminal 1: The new 17-year contract takes effect on September 14, 2007 |
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| Cengiz Iman, Managing Director of the Nuance-Net joint venture, is looking forward to the challenge |
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| NUANCE JOINT VENTURE TO START OPERATING NEW 17-YEAR ANTALYA CONTRACT AT MIDNIGHT TONIGHT |
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| Zurich, September 13, 2007 – The Nuance Group is pleased to announce that its Turkish joint venture will start operating under the new 17-year contract for the exclusive operation of duty free shops at all Antalya airports as of midnight tonight. The contract’s sales value over its total 17 year duration is estimated at € 3.2 billion. |
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The contract between the Nuance joint venture (Urart A.S.) and the airport’s new operators, a consortium between Fraport and IC holding, is taking effect on September 14, 2007, at 00.00 o’clock and gives Urart the right to operate duty free retail at all of Antalya’s terminals until 2024. In the initial phase of the contract’s duration, the Nuance joint venture will operate the duty free business in Terminal 1 as well as the CIP International Terminal. The operations in Terminal 2 will be added to the portfolio as of September 24, 2009.
Urart A.S., a joint venture between The Nuance Group (55 per cent) and Net Holding A.S. (45 per cent), has managed the duty free concession at Antalya’s Terminal 1 since 1998 and currently operates the main departure and arrival duty free shops as well as 16 specialty shops on a total of 1’850 sqm, employing some 300 staff.
Welcoming 14.8 million passengers in 2006, Antalya Airport is the most important tourist gateway to the Turkish Riviera. Since the commencement of Fraport’s BOT Project (Build, Operate, Transfer) at Antalya in 1998, passenger traffic has soared by 130 percent – or more than 12 percent per year.
Roberto Graziani, President & CEO, The Nuance Group, stated: “We are looking forward to shaping the face of Antalya Airport’s retail experience even more strongly in the future and we thank our airport partners for their trust and support for this new era in our cooperation. My thanks also go to my team in Turkey for their extraordinary efforts resulting in this material achievement for our company.”
Cengiz Iman, Managing Director, Nuance-Net Joint Venture (Turkey), adds: “My team and I look forward to continuing our excellent partnership with Fraport-IC established over the last ten years which has led to the extension and expansion of this very important contract. Antalya is a key airport for tourism in Turkey, and it is our ambition to present visitors and locals alike with a truly outstanding shopping experience at all terminals.”
The Nuance Group – Swiss-based The Nuance Group (www.thenuancegroup.com) is the global market leader in the travel retail industry, operating 320 shops across 56 airports and 16 countries around the globe and employing 4’250 staff. In addition to its duty- and tax-free operation, the Nuance portfolio comprises specialist shops as well as food & beverage operations, distribution, inflight services and shops in other travel retail channels.
Net Holding S.A. – Net Holding (www.netholding.com) is the leading company in the Turkish tourism industry. The Net Group has a national presence and is operating in the environments of hotel management, construction, land and property development, duty free shops, music and multimedia shops and coffee chains. |
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