Fly the infrastructure, not the airline: Why investors are flocking to airport stocks like GMR Airports
Even at metro airports, duty free penetration is around 10%, versus 15% in Dubai and 18% in Singapore, despite similar international footfalls of about 40%. This is mainly due to lower passenger spending and limited store formats, Biswas said. However, he believes that rising incomes, better international connectivity, growing outbound travel, and upgraded airport infrastructure,…