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LFP signs five year contract in Madeira

Published 29 September 2010

Lojas Francas de Portugal (LFP), the Nuance Group Portuguese joint venture has signed a five-year concession agreement with airport company Aeroportos da Madeira (ANAM) to operate four stores at Funchal airport until 2015.

The five-year concession agreement, which comprises of 450 square metres (4,843 square feet) of retail space in total, extends the company’s presence to all international airports in Portugal over the next five years. Lojas Francas de Portugal was reported stating that it will completely refurbish the existing duty-free store, which is currently run by Spanish retailer Aldeasa, and also open a new fashion shop, a last-minute gate outlet in the non-Schengen area and an arrivals store at the location. LFP managing director Nuno Amaral was reported stating that LFP will invest together with ANAM on airport retail in Madeira. LFP already has its presence in other six airports in Portugal. ANAM board member and Funchal airport CEO Duarte Ferreira was reported stating that ANAM has invested heavily in the modernisation and improvement of Funchal airport.