There must be sighs of relief all around in the Dublin Airport Authority (DAA) that its Aer Rianta International division managed to sell its interests in Ukraine and Russia last year, ahead of the conflict that has since embroiled both countries.
In 2013, the duty-free specialist sold its remaining one-third share in Aerofirst, a Moscow-based airport retail company. The move earned Aer Rianta International and its parent an €11.3 million once-off profit and also completed its planned "withdrawal from Russia and Ukraine to focus on higher-growth operations and opportunities in core markets".
Neither DAA nor its subsidiary can claim to have had any second sight – the company had been planning to pull out of those markets for some time to shift its emphasis to other regions, such as China, and it began the process in 2012.
The business continues to operate in the Middle East, where it raised its stake in its Bahrain-based company (ARI Middle East or ARIME) to 71 per cent.
Meanwhile, group chief executive Kevin Toland has singled out another overseas venture, DAA International, as a possible engine for future growth. The company plans to offer airport management services to financial investors in the global industry. Toland noted yesterday that demand for such services outstrips supply.
The group's annual report states it is exploring opportunities in countries such as India, Brazil, the US and Japan. DAA International's ambitions do not stop at airports – it is also looking at opportunities to manage their car parks, and is in discussions in the US about providing these services. Presumably if it were to join forces with Aer Rianta International, the pair could offer customers a "seamless experience", taking them from the car park through security to the duty free.