Travelex to provide foreign exchange services

Auckland International Airport Limited (AIAL) today announced it has awarded the contract to provide foreign exchange services at the airport to Travelex.

The new contract, which takes effect from October 2007 and runs for five years, will see an increase in the number of foreign exchange stores and create a new look for foreign exchange services at Auckland Airport. This will make it easier and faster for passengers to change money when they leave or arrive in Auckland.

Travelex and Auckland Airport will maintain competitive and transparent pricing by the regular monitoring of, and making comparisons with, other airports and banks.

AIAL’s general manager retail, Nick Forbes, said “We are delighted to welcome Travelex to Auckland Airport. Our travellers will benefit from a range of innovative foreign exchange products which Travelex offers as a specialist operator with a significant presence globally.”

Bidders for the contract were selected from a diverse range of banks and foreign exchange specialists from New Zealand and overseas.

More than 12 million people pass through Auckland Airport every year, making it within Australasia second only to Sydney, in terms of international passenger numbers.

Foreign exchange services are a key component of Auckland Airport’s overall retail offering.

Travelex chief executive, Ian Meakins, said: “Travelex has had a desire to extend our global airport presence and trade at Auckland Airport for over 15 years. We are delighted to continue our expansion of our New Zealand retail network further with the signing of AIAL.

“Travelex is committed to building successful relationships with our partners and see this as being a very exciting opportunity for us to further enhance our leading position as the specialist in the foreign exchange market.”

Mr Forbes said AIAL had enjoyed a long standing and excellent relationship with the outgoing foreign exchange operator, Bank of New Zealand, and would continue to do so in the future.

“We thank the Bank of New Zealand and their staff for their professionalism over the many years they have provided foreign exchange services at the airport.”

An announcement on the provision of other airport branch banking and terminal ATM services is expected to be made by October.

About Travelex

Travelex is the world's largest foreign exchange specialist, with offices in 35 countries with over 700 retail stores and 16,000 commercial customers. The company's retail branches are located at key airport, seaport and rail locations, in addition to tourist and business centers around the world. Nearly 40 percent of the world's airline passengers, over 1.3 billion people, pass through airports at which Travelex's business operates. This includes the major gateways at London, New York, Hong Kong, Frankfurt and Sydney.

Travelex has been operating in New Zealand as Travelex Financial Services NZ Limited since October 1982. There are currently 22 stores throughout New Zealand including four locations at Wellington and Queenstown Airports.

ENDS

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