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Japan Airlines expects USD113m from caterer sale

14-Jul-2010 10:15 AM

Japan Airlines Corp's inflight catering business, TFK Corp, has received interest from Royal Holdings Co, which runs the Royal Host restaurant chain and already has a 49% stake in the TFK, and Sojitz Corp, which serves as a sales agent for Boeing and Bombardier (The Nikkei/Reuters, 14-Jul-2010). Japan Airlines will solicit bids for TFK Corp as early as next week. Gate Gourmet and the Deutsche Lufthansa AG Group are also reportedly considering the acquisition. The carrier, which plans to select a buyer in autumn 2010, expects JPY10 billion (USD113 million) from the sale.