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HNA takeover of Gate Group increases market domination
The HNA group, a Fortune Global 500 company headquartered in Haikou, Hainan Island, China, has acquired the Swiss aviation and travel services TNC, Gate Group (owner of Gate Gourmet), in a US$1.5 billion cash deal. Gate Group recently acquired Scandanavian travel retailer Inflight Services Group.
The aviation food services business is now heavily dominated by HNA group and its rival LSG Sky Chefs. Workers in both companies will need to organize, build international alliances and intensify the fight for secure employment, social protections and living wages.