gategroup demonstrated its resilience once again in the face of continued global economic uncertainty and uneven performance within the airline industry, its major customer base.Carriers in gategroup’s core markets in Europe and North America trimmed capacity in an effort to firm up pricing and to contain climbing costs amid slackening demand. Other external factors that impacted gategroup in 2011 included the strength of the Swiss Franc, our reporting currency, against the Euro and US Dollar, and the earthquake and ensuing events in Japan.
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