TheMoodieReport.com

TheMoodieReport.com: "Sydney Airport will be offering its A$220 million (US$167 million at current exchange rates) per annum duty free and tax free contract in the market place early next year for a new contract commencement date of 1 November 2006.

The contract has been held by The Nuance Group since it acquired Downtown Duty Free in the mid 1990s and expires 31 October 2006.

Sydney Airport Corporation�s Executive Chairman and Chief Executive, Mr Max Moore-Wilton said that the Airport �has an excellent working relationship with Nuance�, its current duty free retailer.

The airport company said the decision to take the contract to market is reflective of changes within the tourism retail industry, the general evolution of duty free and renewed interest of duty free operators in being part of Sydney Airport�s high profile and well performing duty free business.

�This is the first opportunity since privatisation to interact with the market about Australia�s largest duty free business and the exciting opportunities that lie ahead,� it said.

�The current partnership with Nuance has brought about significant innovations and developments, and as a result created a world class duty and tax free shopping environment for passengers. This is the type of professionalism, commitment and involvement we will be seeking moving forward,� Moore-Wilton said.

The company continued: �The Australian market has major duty free appeal for passengers. To have the opportunity to service all international passengers, both arrivals and departures, as duty free customers is an attractive proposition to duty free operators. Similarly the increase in Australia�s duty free concession allowance in early 2005 provides further stimulus for professional operators.' "