Phoenix airport waives guarantee payments

?Concessionaires at Phoenix Sky Harbor airport will pay only percentage rents from September through to December. The airport waived all minimum guarantees for the period to help concessionaires weather the period.

The airport will reevaluate the situation at the end of December and will make a decision whether to extend the adjustment, according to Paula Kucharz, business development manager.

"We think the rent package is very appropriate," she told Airport Retail News. "We're encouraged by sales recently. She noted that pre-security locations were not doing as well due to the long lines.

She added: "We're all working in a different framework now. Prior to 9-11 we were busy working on planning and construction projects. Now most are on hold and we're finding ourselves focusing on more intricate issues with retailers, such as distribution problems that didn't exist before all the restrictions."