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AIRLINE NEWS Korean Air to sell off inflight DF and catering units to Hahn & Co.


South Korea’s flag carrier Korean Air intends to hive off its inflight duty free and catering divisions to private equity investment group Hahn & Company. The move was decided during a


Korean Air Board of Directors meeting held on 7 July. Under the terms of the deal, Hahn &


Company will have the exclusive rights to negotiate with Korean Air on the transfer of the inflight business, according to a disclosure from South Korea’s DART regulatory service. Korean Air says it will discuss the details


of the transaction with Hahn & Company and will immediately disclose any specific decisions in the future as necessary. “Korean Air will make every effort to


ensure the treatment and employment stability of its business sector employees


and will continue to communicate closely with trade unions,” read a Korean Air statement. In addition to the divestment of the


inflight business, Korean Air plans to sell off real estate assets including Wangsan Marina and increase its paid-in capital this month in bids to increase liquidity.


Gategroup: ePax solution ‘breaks the mould’ of conventional inflight trolley


partner Black Swan Data. Social prediction tools help to forecast


consumer preferences and traveller demands to enhance passenger experiences and drive additional value, says global airline catering, onboard and equipment solutions provider gategroup. In turn, ePax is said to improve cabin


efficiency by reducing or removing the need for airline crew to undertake several steps in the service model. Federico Germani, Chief Commercial


Officer at gategroup said: “Until now, we have been limited by what we can stock on the trolley. Tomorrow, we are only bound by the appetite of the passenger. “EPax ‘breaks open’ the trolley, delivering


Gategroup is reporting increasing demand for its ePax end-to-end digital retail solution as airlines restart operations across the world. The company’s next-generation platform


allows passengers to use their own hand- held devices to peruse an extensive range of products and destination services by accessing a retail web service. It can serve as a standalone system


or be integrated within existing inflight connectivity platforms. The intelligent platform is powered by leading data science and technology


AUGUST 2020


new options in a contactless manner through this true digital transformation. The most important step for airlines right now is to ensure passenger and crew safety as the world starts flying again. Black Swan Data CEO Steve King


added: “We have seen increased demand from carriers who want to digitalise their retail offer. EPax’s innovations, including data-driven mobile product stores, digital payment options, and intelligent recommendations, help airlines deliver safer on-board retail models, while enhancing passenger choice and ancillary revenues.”


TRBUSINESS 7


Shareholders help Branson’s Virgin Atlantic in £1.2 billion bailout package


Virgin Atlantic has announced it has secured a £1.2 billion/US$1.5 billion recapitalisation package to safeguard its future following crippling damage from the coronavirus (Covid-19) crisis. The recapitalisation deal, pre-empted by


several UK national newspapers will help safeguard jobs, although £280m worth of cost savings will need to be made per year. Financing for the airline founded by


tycoon Richard Branson will be delivered over the coming 18 months as part of a five- year restructuring plan with support from shareholders Virgin Group and Delta. This will go through a court-sanctioned


process and expects to come to fruition in late summer. It was widely reported that Virgin


Atlantic had previously called on the UK government for support, but the request was turned down. The package includes a £600m injection


from shareholders, including £200m from Virgin Group, and the deferral of £400m worth of shareholder deferrals and waivers.


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