Uruguayan operator hails recovery

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Zeinal Hermanos, the concessionaire on the Buquebus ferry line that links Argentina and Uruguay, has confirmed that the duty-free industry in the Mercosur trading bloc is recovering. Director Dr Walter Zeinal told DFNI that the high season from December to February had been "exceptional". "Sales have rebounded in all core segments, with passenger traffic considerably up on the same months a year ago," said Zeinal.

Pedro Methol, director of Zeinal's purchasing division Bernabel Trading, agreed. "Sales year-on-year are up by just over 30%, a much better figure than we could have forecast several months ago. The first six months of 2003 were very tough but since July we have seen sales return as people have started to travel again. The economic recovery in Argentina has further helped our business in the last few months."

According to Zeinal, sales should continue to recover throughout 2004. "The economic situation in Argentina is much improved and Argentinians are beginning to travel again. We are cautiously optimistic that this year will be good for our company and for the rest of the duty-free business in the region."