Nov 27 Reuters Avolta has won a deal to operate several dutyfree, travel convenience and specialty retail stores at New York39;s John F. Kennedy International Airport from 2026, one of its largest contracts in North America this year, the Swiss dutyfree retailer said on Wednesday.

WHY IT39;S IMPORTANT

Avolta has been benefiting from a postpandemic rebound in global travel. It last month stuck with its mediumterm growth targets saying the size of its network should help it compensate for any regional slowdown.

However, Barclays analysts on Tuesday questioned Avolta39;s competitive position in North America and raised concerns about fading benefits of the postpandemic recovery.

KEY QUOTES

This is the first in a series of wins the team has had at this airport, Avolta told Reuters in an email.

The world39;s largest dutyfree shop operator declined to comment on the expected revenues coming from the deal, but said the contract was aligned with its 2027 strategy.

Across our operations we see continued passenger growth and general increase in spend per head, it said about the market concerns around slowing passenger demand.

Reporting by Anastasiia Kozlova in Gdansk; editing by Milla Nissi

Source Reuters