Korean Air to reclaim full ownership of inflight catering and duty free operations
Korean Air to acquire remaining 80 percent stake in Korean Air C&D Service
Korean Air has announced plans to acquire the remaining 80 percent stake in Korean Air C&D Service from Hahn & Company. This strategic buyback will restore the airline’s full ownership of its inflight catering and duty free retail operations.
The transaction to acquire 5,010,343 shares, estimated at KRW 750 billion, was approved by Korean Air’s Board of Directors on March 12. After the agreement is finalized, Korean Air C&D Service will operate as a wholly-owned subsidiary.
Bringing these essential services back in-house aims to guarantee a stable supply of in-flight meals and strengthen overall service competitiveness ahead of the upcoming launch of the integrated airline, the March 12 press release stated. Additionally, Korean Air plans to roll out upgraded inflight duty free offerings to further enhance the passenger experience.
Korean Air previously divested an 80 percent stake in its inflight catering and duty free business to Hahn & Company in 2020 to secure liquidity during the COVID-19 pandemic, retaining a 20 percent share.
