South Korean private equity firm Hahn & Company has agreed to sell its stake in Korean Air Catering & Duty Free Service to Korean Air in a transaction valuing the business at 1.7 trillion won ($1.2 billion).
Korean Air will pay 750 billion won ($527.5 million) for Hahn & Co.’s 80% stake in the in-flight catering and duty-free retailer.
The Korean Air business is South Korea’s largest in-flight catering and duty-free retail operator, serving Korean Air as well as other international airlines at Incheon International Airport and Gimpo International Airport.
Hahn & Co. acquired the business from Korean Air in 2020 during the COVID-19 pandemic. Under its ownership, the company reported EBITDA of 124.1 billion won ($87.3 million) and EBIT of 94.9 billion won ($66.7 million) in 2025.
The upcoming exit comes after Hahn & Co’s portfolio company SK Shipping agreed to sell its Korea wet tanker business to Pan Ocean for 974 billion won ($668 million) in February.
