gategroup to develop Indian catering operation

gategroup announced its Gate Gourmet flight catering company will make India a major hub for catering operations, following the completion of its acquisition of a majority stake in local Skygourmet catering. gategroup has invested approximately USD3 million in a new unit in Kolkata, and plans to use India as its base to meet the needs of other emerging markets.

Shares in most airport retail and duty free suppliers traded down on Wednesday. Lotte Shopping Co shares were up 1.3%, although fell back in early trading this morning.

Selected Duty Free daily share price movements (% change): 16-Mar-2011