Avolta AG (until November 2023: Dufry AG) is a Swiss-based travel retailer which operates duty-free and duty-paid shops and convenience stores in airports, cruise lines, seaports, railway stations and central tourist areas.
[citation needed] The company owns stores at airports, railway stations and ports, and operates concessions onboard airlines and cruise ships.
By August 2017, the Chinese HNA Group, which declared bankruptcy in 2021, had acquired a 20.92% stake in Avolta, worth more than $1 billion.
[3] On 24 October 2023, Dufry announced it was entering a strategic partnership with Hubei Airport Group, a Chinese based air transportation support company.
[4] Dufry's name was changed to Avolta AG on 3 November 2023, after a 99.8% approval by shareholders during an Extraordinary General Meeting convened[5] following the takeover of Autogrill.