January 10, 2018

gategroup enters 30-year Joint Venture with Asiana Airlines

ZURICH, January 10, 2018 – gategroup Holding AG is pleased to announce it has entered into a joint venture agreement with Asiana Airlines, a leading international airline of the Republic of Korea. The agreement establishes a long-term strategic partnership and strengthens gategroup’s position at Incheon airport, one of Asia’s fastest growing and largest hubs in the world for international passengers.

The joint venture will position gategroup as the sole in-flight caterer for Asiana Airlines at Incheon airport, serving passengers flying to destinations across Asia, Australia, Europe and North America. As part of the partnership, gategroup will also serve Asiana Airlines at key Korean airports during the upcoming 30 years.

Kim, Soo Cheon, CEO of Asiana Airlines, comments: “We are delighted to partner with gategroup as we move towards our goal of becoming the world's greatest airline. As the clear airline catering industry leader, gategroup is the perfect partner for us to deliver our customers an extraordinary travelling experience. We are very pleased to begin a long-term partnership that offers exciting opportunities to both companies.”

gategroup will hold a 60% controlling stake in the joint venture which includes the creation of a new state-of-the-art facility in Incheon to accommodate Asiana Airlines’ growth plans. gategroup’s position as a leading airline caterer will allow Asiana Airlines direct access to the latest innovations and technologies.

“Through this partnership with Asiana Airlines, we will establish a long-term presence in the Republic of Korea. Asiana Airlines has a five-star Skytrax rating and we are very proud to work with such a distinguished partner,” said Xavier Rossinyol, gategroup Chief Executive Officer. “This long-term collaboration represents a key milestone in the execution of our Gateway 2020 strategy. It takes us an important step forward in our plans to pursue growth opportunities in the Asia-Pacific region and to leverage our commercial innovation.  

Contact

gategroup
communications@gategroup.com

Gate Gourmet Korea
korea@gategroup.com


About Asiana

Asiana Airlines was founded in 1988 and has continued to maintain its 5-star rating by Skytrax for 11 consecutive years since 2007. Headquartered in Seoul, South Korea, Asiana Airlines operates 77 international passenger routes to 63 destinations in 23 countries and 23 cargo routes to 25 cities in 11 countries. Asiana Airlines has recently introduced Airbus A350 with in-flight connectivity to selected destinations to provide the ultimate travel experience. Asiana Airlines became a Star Alliance member in 2003. For more information, please visit http://kr.flyasiana.com/C/en/main.do 

Asiana Airlines is a trademark of Asiana Airlines Inc.

Forward-Looking Statements
This publication contains forward-looking statements and other statements that are not historical facts. The words “believe”, “anticipate”, “plan”, “expect”, “project”, “estimate”, “predict”, “intend”, “target”, “assume”, “may”, “will” “could” and similar expression are intended to identify such forward-looking statements. Such statements are made on the basis of assumptions and expectations that we believe to be reasonable as of the date of this publication but may prove to be erroneous and are subject to a variety of significant uncertainties that could cause actual results to differ materially from those expressed in forward-looking statements. Among these factors are changes in overall economic conditions, changes in demand for our products, changes in the demand for, or price of, oil, risk of terrorism, war, geopolitical or other exogenous shocks to the airline sector, risks of increased competition, manufacturing and product development risks, loss of key customers, changes in government regulations, foreign and domestic political and legislative risks, risks associated with foreign operations and foreign currency exchange rates and controls, strikes, embargoes, weather-related risks and other risks and uncertainties. We therefore caution investors and prospective investors against relying on any of these forward-looking statements. We assume no obligation to update forward-looking statements or to update the reasons for which actual results could differ materially from those anticipated in such forward-looking statements, except as required by law.

Note: In the event of any discrepancy or inconsistency between any translated versions of this publication, the English version shall prevail.