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SWITZERLAND. Zürich Airport commercial turnover (net sales to consumers from retail and food & beverage units) climbed by +1.6% year-on-year in October, hitting CHF42.9 million (US$46.9 million). The figure for airside turnover was up by +2.9% with landside sales rising by just +0.1%.
Net sales per departing passenger dipped marginally (-0.3%) to CHF37.60 (US$41.10), with the figure rising by +1% airside and down by -1.7% landside.
In the first ten months, commercial turnover was CHF397.8 million (US$435.2 million), down by -0.4%, while net sales per departing passenger fell by -6.9% to CHF38.40 (US$42).
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Senior Vice President Commercial, Marketing & Real Estate Patrick Graf said: “The strong Swiss Franc versus foreign currencies as well as the ongoing construction of the commercial area keep on having a negative impact on the PSR (Passenger Spend Rate) development. Despite that, we are happy to see that the new Arrivals duty free shops have generally had a positive impact on the tax and duty free turnover performance, which is +7.2% up versus the previous year for the month of October.”
He added: “The total airside business is heavily affected by the strong Swiss Franc and has not only an impact on the tax and duty free sector, but also [has dealt] a significant blow to the luxury segment in general. Besides this, as a result of the warm temperatures in October, revenues in the fashion sector continue to be very volatile.
“The food & beverage segment in the passenger area is still well on target. On one hand, this is the result of a significant optimization of quality and value for money and, on the other, new concepts like the Sports Bar, Marché, Foodland and others are attracting customers and are very well perceived. The F & B sector is likely to benefit from the strong Swiss Franc as more and more passengers have “de-selected” shopping from the beginning and hence shorten their dwell time in the retail sector and spend more time in restaurants and bars.
“Landside the opening of a 650sq m H&M store at the beginning of October showed great results and will strengthen the fashion competence of our landside shopping centre. In addition on 28 October we opened Grieder, a mid-high end multibrand fashion boutique for women on 160sq m. [It is located] just opposite Herren Globus, which opened early last year and offers a wider range of mid-high end fashion for men.”
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The new Grieder store (above and below) adds to the strong fashion & accessories mix at the airport |
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In related news, the airport handled 2.28 million passengers in October, a gain of +1.9% versus October 2010. The year to date passenger growth stands at +7.0%.
O&D or local passengers (originating or departing from Zurich) increased by +4.9% to 1,585,710 compared to the previous October (YTD +8.2%). Transfer passengers are down by -4.2% to 687,874 in October (YTD +4.7%). The transfer rate, which was 32.1% last October, is currently at 30.2% (YTD 33.5%).
The current low-cost passenger market share is at 11.5% (YTD 11.3%), showing an increase in passenger figures of +4.1% (YTD +10.5%) versus the previous year.
For the full year 2011, Flughafen Zürich AG has increased its passenger guidance to a total of 24.4 million or a rise of +6.5% (from originally +5% to +6%) compared to 2010. The positive effect from higher passenger growth will partially be offset by lower than expected commercial revenue, the airport noted.
In addition, Flughafen Zürich AG revised its 2011 capital expenditure guidance upwards from CHF260 million to approximately CHF290 million, mainly the result of project investment costs arising in 2011 instead of 2012, as planned originally.
