October 29, 2020 at 10:16 PM
In a press release Thursday evening, JCDecaux announced that its advertising contract with the four airports in New York and New Jersey, John F. Kennedy, LaGuardia, Newark Liberty and Stewart has not been renewed. A contract that the group had held for “more than 30 years” with the Port Authority of New York and New Jersey (PANYNJ). Health crisis requires, the external communication group underlines its take on this contract “immediate and targeted measures on its operational and financial levers to mitigate this decrease and preserve its cash flow, notably via an adjustment of rents, rigorous control of costs, reduction in capital investments, strict control of working capital requirements and cancellation of the dividend ”. However, he indicates that he “will not pursue a contract that was not financially justified given the current context”.
–
–
–
