Footfall in airports are not expected to recover before 2023. In spite of a flight activity in China recovering faster than in the rest of the world, back to 70%, making Chinese customers the most appealing ones, spending 5 times more than Koreans and Russians, revenue in airports has fallen by -48% , leading duty-free operators to sustain a recession. This is the reason why Swiss-based Dufry is aiming to save CHF1bn in cost cuts this year, by buying back subsidiaries and rationalizing activities.

Duty-Free operators are rationalizing operations to face upcoming challenges