gategroup inks long-term pact with Asiana at ICN
Plans are in the offing for a new gategroup unit at Incheon International Airport
gategroup Holding AG has entered into a joint venture agreement spanning 30 years with Asiana Airlines of Korea.
“The agreement establishes a long-term strategic partnership and strengthens gategroup’s position at Incheon airport, one of Asia’s fastest growing and largest hubs in the world for international passengers,” said a release from gategroup.
The joint venture will position gategroup as the sole in-flight caterer for Asiana at Incheon airport. gategroup will hold a 60% controlling stake in the joint venture, that includes a new facility in Incheon to accommodate Asiana Airlines’ growth plans.
“Through this partnership with Asiana Airlines, we will establish a long-term presence in the Republic of Korea. Asiana Airlines has a five-star Skytrax rating and we are very proud to work with such a distinguished partner,” said Xavier Rossinyol, gategroup Chief Executive Officer. “This long-term collaboration represents a key milestone in the execution of our Gateway 2020 strategy. It takes us an important step forward in our plans to pursue growth opportunities in the Asia-Pacific region and to leverage our commercial innovation.“