SATS Investments has acquired Japan Airlines' entire stake of 50.7% Japanese airline caterer TFK Corp for about $122 million paid in cash. TFK will become a subsidiary of SATS.
The deal gives SATS entry into the Japanese airline catering market and will help to strengthen existing relationships with Japan Airlines and Qantas Airways.
SATS has funded the acquisition through internal resources and debt.
Related posts
AirAsia X embarks on new restructuring plan
6th October 2020