Duty-Free shops are at the risk of facing bankruptcy without State support

The termination of international air traffic actually meant that since March 16, almost all duty-free shops In Russia have suspended their work. According to the forecasts of market participants, this year, even with the best scenario, trade performance will make up only 50% of annual revenue. At the same time, duty-free networks have not yet been included in the government support programs.

The retailers sent their pleas for help to the head of government and the first vice-premier. According to the executive director of the Eurasian association of duty-free, stores count on the substantial state support at least in obtaining compensation for salary payments to the employees until the retail outlets resume work.

Duty-free representatives hope for the exemption from personal income tax, UTII and a number of insurance payments provided that that VAT will be maintained at the same level.

According to the experts, the duty-free network segment included up to 5 thousand employees before the crisis. Their salaries averaged from 56 to 75 thousand rubles. A simple arithmetic operation makes it possible to understand that duty-free market participants want to receive about 200 million rubles from the state as a subsidy for paying wages, not including requests for covering rental payments at half the contract price.

David Grady, president of the Eurasian Association of Duty Free Shop Owners and Suppliers of Products for Them, notes that consumer traffic was reduced at the end of January. There were scheduled flights, but the number of passengers began to decline by about 20% due to the rumors concerning epidemic.

The duty free operators, whose outlets are located in the Far East, were first to suffer. Then began a blackout of the remaining countries - Italy, Spain, the USA.

The expert estimates indicate that the capital airports duty-free points used to generate up to 45% of revenue. For the air harbors, located in the regions, revenue was about 30%. Last year, the duty free market was estimated at 60 billion rubles.

Now the bulk of the employees are sent on unpaid leave, and the leaders of the trading pavilions themselves expect to open the stores by the end of May or close them completely, turning to the bankruptcy procedure.