Board Approves Continued Support for Concessions Partners
DFW AIRPORT, Texas — March 4, 2021 — The DFW Airport Board of Directors approved a plan to continue its support of concessions partners who’ve been affected by the pandemic impacts during its monthly meeting.
The relief for partners is an extension of the suspension of Minimum Annual Guarantee (MAG) rent requirement and runs through the end of the current fiscal year, which ends on Sept. 30, 2021. That extension – in favor of a percentage-based rent rate for concessions partners – is an additional commitment valued of more than $40 million in support and a total commitment valued at more than $109 million in relief over the 2020 and 2021 fiscal years combined. Add in an extended suspension of operating and management and other fees for other concessions and service partners and the approved relief actions provide a value of more than $119 million in relief to partners over the 2020 and 2021 fiscal years combined.
Part of the plan also includes a two-year extension on current lease agreements and the approval of conditional voluntary termination of contracts without penalty. Also, the Board heard about support from the Airport to help partners earn Global Biorisk Advisory Council (GBAC) Star Accreditation status.
“DFW Airport was among the first in North America to offer relief to its concession partners after COVID-19 hit in 2020,” said Ken Buchanan, the Executive Vice President of the Revenue Management and Customer Experience at DFW Airport. “They were a big part of our success before the pandemic hit, and they will be a vital part as we all prepare for the return of air travel to those previous robust levels. Our partners invested in us before, and we are investing in them now. That’s what real partnership looks like.”
DFW Airport has been an industry leader in taking proactive action to support concessions and service partners during the pandemic. MAG relief was first given to concessions locations in Terminal D in March 2020 and eventually expanded to include terminal locations throughout the Airport in April 2020.
In other Board action:
- Approved several renovation-related contracts for Terminal C, awarding contracts for design services, project management and soliciting construction services. The overall value of the contracts exceeded $200 million for work to upgrade one of the original terminals at the Airport.
- Approved a 5-year contract for an upgraded camera and taser system for DPS officers.
- Approved a contract for “mystery shopper” services at the airport.
For more information on the Board actions, check this link.