Travel Food Services subsidiary inks 11-year deal for 33 F&B outlets at Delhi Airport T1
TFS Gurgaon Airport Services Private Limited received a Letter of Intent to Award from Delhi International Airport Limited to operate 33 F&B outlets at Terminal 1. The contract is for approximately 11 years, valid until May 2, 2036.
Securing operations for 33 F&B outlets at a prime location like Indira Gandhi International Airport for an 11-year term is a substantial business expansion for the company, likely to have a significant impact on its financial performance and market presence.
The announcement details a significant new contract award for operating multiple F&B outlets at a major airport, which is expected to drive revenue and business growth.
Travel Food Services Limited (TFS) announced that its wholly owned subsidiary, TFS Gurgaon Airport Services Private Limited, has received a Letter of Intent to Award (LOIA) from Delhi International Airport Limited (DIAL). This agreement grants the rights to design, develop, operate, and manage 33 Food and Beverage (F&B) outlets at Terminal 1 of Indira Gandhi International Airport, New Delhi.
The contract is awarded for approximately 11 years, with the License Agreement valid until 2nd May, 2036. This includes the extension of terms for certain outlets currently operated by the company and its subsidiary.
This significant development pertains to a domestic contract with DIAL, a domestic entity. The company has confirmed that promoters, promoter group, or group companies do not have any interest in DIAL, and the contract does not fall within related party transactions.
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Travel Food Services Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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