Korean Air sells inflight catering and duty free business for USD834m

25 August, 2020

Korean Air signed (25-Aug-2020) a business transfer agreement with Hahn & Company for its inflight catering and duty free business on 25-Aug-2020. The business was sold for KRW990.6 billion (USD834.2 million) and will be transferred to a new corporation to be established by Hahn & Company. Korean Air will enter a contract with the new company for the supply of inflight meals and duty free products. The airline also plans to acquire a 20% stake in the new company. The transaction is expected to close in two to three months. [more - original PR - Korean]