Gate Gourmet to Enter Indian Market

ZURICH, Switzerland, May 2 /PRNewswire/ -- Gate Gourmet, a global airline catering and logistics provider, has taken its first step to expand into India, one of the world's fastest growing economies. The company has signed a Memorandum of Understanding (MOU) with Advani Hotels & Resorts India Ltd. for the transfer and sale of its flight catering unit, Airport Plaza Flight Services.

The enterprise is the sole airline caterer at the International Airport in Goa, a renowned beach resort on the Indian Ocean. Airline customers are primarily charter companies and domestic carriers.

The agreement is subject to due diligence and the approval of Advani's shareholders. Terms were not disclosed.

"We are very pleased and excited about the prospects of entering the Indian subcontinent for the first time," said Guy Dubois, Executive Vice President, Chief Financial Officer and Chief Administrative Officer. "Gate Gourmet has successfully restructured and is now poised for strategic growth. India, with its vibrant economy, is a natural area for expansion where we can offer our unique blend of culinary innovation and logistic expertise to a new roster of clients."

Mark Wall, President of the Asia Pacific/Middle East region, said: "India's growing importance is clearly defining a new leadership role in all aspects of the aviation industry. We are extremely pleased about this cooperation, and the opportunities to further expand into this region."

Founded in 1992, Gate Gourmet is the world's largest independent airline catering and logistics company. Revenue in 2006 was 2.4 billion Swiss francs. With approximately 20,000 employees worldwide, Gate Gourmet produces an average of 200 million meals annually, serving customers from 95 flight kitchens in 26 different countries and five continents. Visit our website at www.gategourmet.com .