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Hainan Meilan franchises its duty-free businessHainan Meilan franchises its duty-free business
Andrew Pentol
12-Sep-2007
The airport has taken the step of franchising its business to share the operational risk
Hainan Meilan International airport franchised its duty-free business to Hainan HNA China Duty Free Merchandise Co Ltd in the first half of the year to share the operating risk and ensure the company has a steady income.
According to a Hainan Meilan airport company statement published on the Hong Kong stock exchange website, the duty-free company achieved revenue of Rmb8m ($1.63m) for the first half of the year, an increase of 44.6% compared with the previous year.
The airport recorded total revenues of Rmb174.9m ($23.3m) in the first half of the year, a 1% decrease compared with the same period in 2006.
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