Jet Airways grounding, Sri Lanka terror attacks hit duty free sales

For Flemingo Travel Retail, the airline's grounding had an impact as its store in Mumbai contributes significantly to its topline

The closure of Jet Airways and terror attacks in Colombo led to double digit drop in duty free sales at airports in India and Sri Lanka, said Manishi Sanwal, chief executive officer of Flemingo Travel Retail on Thursday. 

Flemingo group, which runs duty free stores at twelve airports in India and a few other countries, however, expects business to recover by end of current fiscal with the opening of new outlets and aggressive marketing. The Indian subcontinent contributed 40 per cent to its consolidated revenue of around $750 million (Rs 5,250 crore) in FY 2019. 

"April was the worst month