gategroup Holding AG has received the backing of its shareholders and creditors to acomprehensively restructure the Group’s financial indebtedness. The proposed Transaction will provide the Group with significant new liquidity to address short and medium-term needs and will help establish a stable capital structure.
“This Transaction is a key milestone for the Group. It will position gategroup well for a recovery in the aviation sector and also support the Group’s diversification. The agreement signifies the commitment of our shareholders and lenders to the Group, its management and employees,” said gategroup CEO Xavier Rossinyol.
Rossinyol continued: “The Group will work together with its stakeholders to further improve our cost structure and prepare for the ramping-up of business by our customers.”