Taoyuan International Airport Corp (TIAC, 桃園國際機場公司), operator of Taiwan’s largest aviation hub, plans to expand revenue from retail and hospitality services to more than 50 percent of sales within five years.
“There’s still a lot of space that’s not utilized inside and around the airport and we need to review that to see if there are commercial opportunities,” chairman of the government-owned company, Yeh Kuang-shih (葉匡時), said in a -telephone interview yesterday.
The expansion may include hotels, conference facilities, retail outlets and restaurants, he said.
About 30 percent of the airport’s NT$12 billion (US$400 million) revenue this year will come from non-aviation businesses, said Yeh, who is also deputy minister of transportation and communications.
An NT$80 billion budget to build a third terminal and a satellite terminal will be submitted to the Cabinet this year and help meet the long-term growth target of between 3 percent and 5 percent annual increase in air traffic, Yeh said.
The Airport is seeking to expand its revenue streams after becoming an incorporated entity on Nov. 1 as part of the government’s plan to boost efficiency and expand operations.
The company expects to begin researching investment and cooperation opportunities at airports in Southeast Asia, India and China next year, Yeh said.
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