Gategroup, the world’s largest airline catering company, is preparing for an initial public offering (IPO) as early as the second half of 2026. The company, previously listed on the Swiss stock exchange before being acquired by HNA Group in 2017, is now co-owned by Singapore’s Temasek and Hong Kong-based RRJ Capital. It has held talks with potential advisers regarding the listing, with Zurich considered a likely venue.
The firm has faced a turbulent history, including a failed IPO effort in 2018 due to weak investor demand, aiming to raise up to 1.1 billion Swiss francs at the time. Since its acquisition, Gategroup has undergone restructuring amid the COVID-19 pandemic, which severely impacted airline service providers.
Potential Listing Details and Market Context
According to sources familiar with the matter, a formal announcement on the IPO timing has not been finalized. Representatives for Gategroup, Temasek, and RRJ declined to comment. The company remains the leading provider of airline catering services globally by revenue, as detailed in its 2024 annual report.
Zurich has hosted only two IPOs in 2025, with the largest being SMG Swiss Marketplace Group. However, the stock has traded below its initial listing price since September, reflecting the cautious investor sentiment. An IPO would mark Gategroup’s return to public markets after an unsuccessful attempt in 2018 and could help the company leverage additional growth opportunities in the aviation sector.
