To that end, HNA has entered into exclusive talks to buy just under 50% of Air France’s Servair catering offshoot. This values the French enterprise at around €475m.
The move comes in the wake of an impressive shopping list: within the last 12 months HNA Group has acquired or has looked to acquire a 13% stake in Virgin Australia, a 7% stake in Atlantic Gateway (a part owner of TAP Portugal), 23% of Brazilian carrier Azul, Irish lessor Avolon, Swissport International and another major catering player, Gategroup Holdings. This isn’t the first time that Air France’s catering arm has been wooed, however, but it is understood that negotiations are now being exclusively held with the Chinese party. Should HNA be successful with its offer for Gatergroup, the addition of Servair would bring with it an overwhelming market presence, with 200 separate facilities.
