Travel Food Services Ltd Secures 5-Year License to Operate F&B Outlet at Bengaluru Airport Terminal 1
Travel Food Services Limited has entered into a significant partnership agreement to operate a Food and Beverage (F&B) outlet at Kempegowda International Airport in Bengaluru. The company signed the License Agreement with Bangalore International Airport Limited (BIAL), granting it the right to operate one F&B outlet at Terminal 1 of the airport.The license grants Travel Food Services Ltd the opportunity to manage the F&B operations for a period of five years at the busy international airport in Bengaluru.
This domestic agreement outlines the terms and conditions under which the company will serve travelers, with payment details covering the license fee, minimum guarantee amount, and other charges being managed as per the Agreement.
Details regarding the contract awarded by BIAL are summarized below:
| Particulars | Details |
|---|---|
| Entity Awarding Contract | Bangalore International Airport Limited (BIAL) |
| Nature of Contract | License to operate one F&B outlet at Terminal 1, Kempegowda International Airport, Bengaluru. |
| Contract Duration | 5 years |
| Domestic/International Status | Domestic |
| Consideration | Payment of license fee, minimum guarantee amount and other charges as per the Agreement. |
The agreement solidifies Travel Food Services Ltd's presence within a key operational area at the airport, managed by BIAL. The terms indicate that there is no interest of the company's promoter or promoter group in Bangalore International Airport Limited, and the contract does not fall under related party transactions.
TRAVELFOOD Stock Price Movement
Travel Food Services Limited shares closed higher today, gaining 1.02% to settle at ₹1332.8. The stock traded with a volume of 28,805 shares, finding support within the intraday range of ₹1304.4 and ₹1340.9.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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