SATS inked a memorandum of agreement (MOA) with Turkish Airlines (THY) that will allow its wholly-owned subsidiary SATS Investments Pte. Ltd to provide in-flight catering services to Istanbul New Airport.
According to an announcement, SATS will invest into a catering company in Turkey that will operate one of the largest in-flight kitchens in the world at a key aviation hub.
Turkish Airlines said in a statement : “Within the scope of the goodwill agreement, it may be possible to invest in the Singaporean company for the provision of catering services after the obtainment of legal, administrative and regulatory approval and the fulfillment of necessary preconditions. Significant developments will be shared with the public.”
According to a THY statement disclosed through the Public Disclosure Platform (KAP), the former can jointly establish a company with SATS, the catering provider for Singapore Airlines.
SATS has not disclosed financial details related to the MOA.
SATS was founded in 1972 in Singapore. Operating in 44 locations in the Far East and Middle East, the company offers ground services as well as airline catering. The company, which is closely interested in Istanbul’s third airport project, has been planning to invest in Turkey for a long time. If an agreement is reached with SATS, the company is expected to invest $120 million in the new airport.