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Dubai Duty Free sales increase 23% to Dh3.95b despite global slump
Dubai Duty Free (DDF) yesterday said its sales increased 23 per cent to Dh3.95 billion last year, despite the fact that the global aviation industry was set to lose over $7 billion (Dh25.74 billion) by next year.
- By Suzanne Fenton, Staff Report
- Published: 23:35 January 5, 2009
- Dubai Duty Free recorded more than 21 million transactions in 2008, with the $1 million milestone crossed on December 17.
- Image Credit: Supplied Picture
Dubai: Dubai Duty Free (DDF) yesterday said its sales increased 23 per cent to Dh3.95 billion last year, despite the fact that the global aviation industry was set to lose over $7 billion (Dh25.74 billion) by next year.
December itself was a record month with sales reaching a new monthly high Dh403 million.
On the anniversary day itself, sales soared to Dh71 million. This single day generated the same amount that was taken in the first year of DDF's operations.
The milestone $1 billion was crossed on December 17. Dubai Duty Free celebrated its 25th anniversary on December 20.
"This anniversary year has been a remarkable one for Dubai Duty Free. Breaking the $1 billion sales milestone in December has been a great achievement and I congratulate the team at Dubai Duty Free for setting a retailing benchmark and for firmly establishing its position as one of the top duty free operations in the world," Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Department of Civil Aviation and Chairman of Emirates Airline and Group, said.
Dubai Duty Free began its operations on December 20, 1983, with first-day sales hitting Dh160,000. On the same day, in 2008, total sales were Dh46 million.
Dubai Duty Free recorded more than 21 million transactions in 2008, which is roughly 58,000 transactions each day - an 11 per cent increase on 2007.
DDF's revenues are a breath of fresh air when the industry it is linked to has a bad year ahead.
Airlines in the Middle East are bracing themselves as their losses are set to double to $200 million in 2009 as the global aviation industry faces falling revenues, according to the International Air Transport Association (IATA).
Passenger traffic is expected to decline by three per cent this year, following a two per cent growth in 2008. Dubai Duty Free currently contributes six per cent to the $32 billion global duty free industry.
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