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Korean Air to Reclaim Ownership of in-Flight Catering, Duty-Free Operations
5 Articles
5 Articles
Korean Air to reclaim ownership of in-flight catering, duty-free operations
Korean Air will buy back the remaining 80 percent stake in Korean Air C&D Service from Hahn & Company, in a strategic move to restore the airline’s full ownership of its in-flight catering and duty-free retail operations, the nation's flag carrier said Thursday. The transaction valued at 750 billion ($506 million) was approved by Korean Air’s board of directors on the same day. After the agreement is finalized, Korean Air C&D Service will operat…
Korean Air to Reopen In-Flight Meal Business... Six years after selling off its in-flight meal business during the COVID-19 pandemic, Korean Air is reacquiring the business, which it had sold to secure liquidity during the pandemic. On the 12th, Korean Air held a board meeting and decided to acquire an 80% stake in Korean Air C&D Service from private equity firm Hahn & Company.
[Digital Daily Reporter Choi Min-ji] Korean Air has regained its in-flight meal and duty-free business, which it sold off due to the management crisis caused by COVID-19, after six years. Hanjin Group Chairman Cho Won-tae's previously expressed intention to "reacquire" the business has become a reality. Korean Air announced on the 12th that it will acquire all shares of Korean Air C&D Service (C&D Service), which handles in-flight meal supply an…
Hahn & Co Sells Entire Stake in In-Flight Catering and Duty-Free Biz to Korean Air
Hahn & Company (Hahn & Co.) sold its entire stakes in Korean Air C&D to Korean Air on March 13. Hahn & Company (Hahn & Co.), South Korea’s largest private equity firm, announced on March 12 that it has signed definitive agreements with Korean Air to sell its entire stake in Korean Air C&D Service, a subsidiary of Korean Air. The money to be paid by Korean Air for Hahn & Co.’s 80% stake is 750 billion won (approximately $527.5 million). Up to now…
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