LSG Sky Chefs Finalizes Asiana Catering Deal

April 3, 2003

After approval from all relevant parties, LSG Sky Chefs and Asiana Airlines have finalized the purchase agreement of Asiana’s catering division to LSG Sky Chefs today. Under the agreement, LSG Sky Chefs will hold 80 % in the new company and Asiana Airlines will hold 20 %. Prior to this event, the two parties had formed an agreement to establish a new company name, LSG Sky Chefs Korea. Closing will take place after final approval by the antitrust authorities.

Asiana Airlines started its catering division in 1994 and built the current location at Seoul Incheon Airport in 2001. Today it prepares 13,000 meals daily not only for Asiana Airlines, but also for 14 other foreign airlines.

Seoul is one of the most important strategic locations in the Asia/Pacific area with continuously growing passenger volumes. This agreement marks LSG Sky Chefs’ market entry in Korea and the operation will serve as a basis for further expansion in Northeast Asia.

“This deal is a clear win-win situation”, said Hanns R. Rech, Chairman and CEO of LSG Sky Chefs at today’s signing ceremony in Seoul. “Beyond intensifying the partnership between Asiana Airlines and LSG Sky Chefs, it offers advantages to both parties: Asiana Airlines will benefit from LSG Sky Chefs’ global network and experience while enhancing its onboard service, and LSG Sky Chefs will be able to strengthen its culinary expertise with regard to Korean cuisine”.

The LSG Group is the world’s leading provider of end-to-end on-board products and services. These include catering, onboard retail and entertainment, onboard equipment and logistics, consulting and lounge services. The company’s dedication to culinary excellence and expertise in logistics has led to its successful entry into adjacent markets like train services and convenience retail. Its catering activities are marketed under the “LSG Sky Chefs” brand name, through which it delivers 591 million meals a year and is present at 211 airports in 50 countries. In 2015, the companies belonging to the LSG Group achieved consolidated revenues of € 3.0 billion.