In order to avoid bankruptcy,
Tuesday, March 11, 2008
In order to avoid bankruptcy, airport operator BAA has sold off 58 of its duty-free shops to Italy's Autogrill. "BAA, which faces an annual interest bill of about £900m, raised £546.6m through the disposal of World Duty Free Europe, which has shops at the company's seven UK airports." Autogrill now has a monopoly on the duty free industry. [The Guardian]
