SOUTH KOREA. National carrier Korean Air is to regain full ownership of its key inflight retail and catering businesses through acquiring the outstanding 80% holding in Korean Air C&D Service from private equity firm Hahn & Company.
As reported, Korean Air divested an 80% stake in the combined services unit to Hahn & Company in 2020 to secure liquidity during the COVID-19 pandemic, retaining a 20% share.
The Korean Air Board of Directors approved the 5,010,343-share deal, valued at KRW750 billion (US$499 million) on 12 March.
“With this acquisition, Korean Air successfully reclaims a core pillar of its customer service operations,” the airline said.
After the agreement is finalised, Korean Air C&D Service will operate as a wholly-owned subsidiary.
Korean Air said bringing these essential services back under direct control is designed to ensure a stable supply of inflight meals and strengthen overall service competitiveness ahead of the upcoming launch of the integrated airline.
That is a reference to Korean Air’s acquisition of Asiana Airlines on 12 December 2024, forming a consolidated national carrier. Full brand integration will happen in coming months with duty-free retail set to benefit from the combined scale.
“Additionally, Korean Air plans to roll out upgraded inflight duty-free offerings to further enhance the passenger experience,” the company said. ✈
