Bahrain Airport Company reviews current commercial contracts
4 January 2010
In a move aimed at improving Bahrain International Airport’s business model, Bahrain Airport Company is reviewing the existing commercial contracts offered to tenants at the Airport and introducing a new scheme in lieu of them, due by Q2 2010.
The new scheme will cover all tenants, with a revenue share model to be implemented to retail, F&B, car park and banking tenants. Besides, there will be a fixed rent model designed for airline offices, car rentals, travel agencies, kiosks, ATMs and land leases. The scheme will also enhance the commercial mix of offices and F&B outlets in the Airport and space utilisation of the leased area.
Dr. Osama Al Ali, CEO of Bahrain Airport Company commented, “We are currently investigating the Airport’s revenue potential, and will accordingly standardise prices and match them with the market range. This will be accompanied by the introduction of new value-added services, such as; cleaning, IT and telecommunication services, which will be bundled with the new pricing. Bahrain Car Park Company will also have their share of the new setup, as they will review prices and fees, enhance operating efficiency, add extra parking space and improve space utilisation. We are confident that our tenants will find this new setup a catalyst for better financial performance and of mutual interest to all parties.”
Bahrain Airport Company is responsible for managing and operating Bahrain International Airport in line with the Company’s strategy. The Company plans to improve the Airport’s infrastructure and financial performance dramatically and make it a major contributor to the economy. The plans include building extra capacity and the utilisation of state-of-the-art information and communication technology. The Company will also provide additional facilities for VIPs, a new general aviation terminal, new commercial facilities, as well as hotels, conference centres, retail and recreational facilities.
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