Korean Air has said it plans to acquire the remaining 80% stake in Korean Air C&D Service from Hahn & Company. The transaction was approved by the airline's board today (March 12).
The airline will acquire 5 million shares at around 750bn Korean won ($502.7 million), restoring the airline's full ownership of its in-flight catering and duty-free retail services.
Korean Air previously divested the 80% stake in 2020 to secure liquidity amid the COVID-19 pandemic. The company said this transaction will allow it to “reclaim a core pillar” of its customer service operations.