Dnata buys Air France stake in Italian unit
Dubai, May 16, 2013
Dnata, the airlines services arm of Emirates, has bought out Air France-KLM's stake in an Italian joint venture catering business, Dnata said in a statement on Thursday.
Servair Airchef, part of Chef Italia Group, was equally owned by Dnata subsidiary Alpha and Air France Group's food unit Servair, according to its website.
No financial details of the deal was provided.
Dnata has been on an expansion drive over the past two years, acquiring stakes in three in-flight catering companies including Alpha Flight Group, Wings Inflight Service in South Africa and En Route International.
Servair Airchef, headquartered in Italy, has a presence in 23 airports including Rome, Milan and Venice, employing around 700 employees, producing about 40,000 meals daily.
Globally, airline companies have also been looking to shed their catering business to focus on boosting margins.
Franco-Dutch carrier Air France-KLM was reported last year to be considering sale of its entire Servair catering unit for 300 million euros. - Reuters