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  1. auckland airport News and Updates from The Economic Times - Page 7!
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Did Auckland International Airport's (NZSE:AIA) Share Price Deserve to Gain 31%?

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    Travelex straniera auckland

    Now there's increasing reason to worry about the airport selling monopoly rights to other businesses - presumably choosing the firms willing to pay the most rent rather than those offering the best deals - with passengers paying the price. The airport company has now given DFS Group a monopoly on selling duty-free products at the international airport so shoppers no longer have the opportunity to compare its prices with those at Regency Duty Free.

    The airport company claimed the end result would be a better deal for customers. In other words, it reckons that although DFS faces increased costs and will have no competition, it won't be tempted to increase prices. The Commerce Commission gave its view on that when it refused to allow DFS to take over Regency on the grounds that - in the commission's bureaucractic speak - it "cannot be satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in the market of on-airport retail supply of duty free goods at Auckland International Airport".

    There has long been a monopoly on foreign exchange at the airport but for many years that was held by BNZ, which was kept honest by being a nationwide bank whose operations face plenty of competition elsewhere. But after a tender called by the airport company that monopoly has passed to international foreign exchange company Travelex.

    I've been a bit wary of Travelex since the time I changed some New Zealand dollars into Papua New Guinea kina at their Brisbane Airport kiosk and then discovered on arrival at Port Moresby that the local money changer offered a hugely better rate. What all that amounts to is that the banks are much of a muchness when it comes to foreign exchange but Travelex is clearly the most expensive of the places I contacted.


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