Korean Air to Sell Inflight Catering and
Korean Air has signed a memorandum of
understanding with Hahn & Company, a private equity fund, for the
sale of its inflight catering and duty-free business.
Hahn & Company had been granted an exclusive
negotiation right at Korean Air's board meeting on 7 July.
Details of the sale have not been released.
To overcome the prolonged crisis caused by the
COVID19 pandemic, Korean Air is in the process of selling its land
in downtown Seoul and its shares in Wangsan Leisure Development
Co., Ltd. The airline is also increasing capital by issuing new