Business Services Industry
King Power Wins New Concession Deal with Airports of Thailand.
Knight Ridder/Tribune Business News, April, 2004
Bangkok Post, Thailand Knight Ridder/Tribune Business News
Apr. 7--Airports of Thailand has awarded a new duty-free concession to King Power Duty Free Co at the Suvarnabhumi, Chiang Mai, Phuket and Hat Yai airports.
In a statement to the Stock Exchange of Thailand, AOT said the concession term would run from Sept 29, 2005 to Dec 31, 2015. King Power, the country's largest duty-free operator, will pay concession fees equivalent to 15 percent of its gross revenue for the first five years, with the fee increasing by an additional 1 percent in each of the subsequent years.
As well, AOT said, King Power had increased the minimum revenue payment guarantee throughout the concession term to 16.74 billion baht from 15 billion baht proposed...
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