SPAIN. Spanish retailer Aldeasa announced today that its concession to operate the Madrid Barajas airport duty free and Travel Value shops has been extended until 31 December 2012
The concession had been due to expire on 31 December 2006. Aldeasa requested the extension because it is investing €20 million (US$23.2 million) in adapting its stores to a new layout as part of the project for the new terminal 4 building and satellite.
Spanish airports authority AENA said in a statement its management committee had made the decision to extend the time limit at its last meeting, in the interests of re-establishing stability. Aldeasa’s rent will increase in the 2007 to 2012 period, to take account of the new and remodelled retail areas.
The T4 investment will increase passenger handling capacity at Madrid to 10,400 per hour and 35 million per year with a total commercial area (including Aldeasa and other locations) of 42,000sq m (451,920sq ft).
