Sunday July 14, 2024

Lufthansa sells catering business to private equity group

Published : 01 Nov 2023, 23:54

  DF News Desk
A view of the Lufthansa logo is seen on a plane in Frankfurt. File Photo: Boris Roessler/dpa.

German airline Lufthansa has completed the sale of its LSG catering business to the private equity group Aurelius, the carrier announced on Wednesday, reported dpa.

The sale, which was agreed upon in April, was completed on October 31, Lufthansa said.

Aurelius will continue to invest and provide new impetus, it added.

The sale concerns the non-European part of the former Lufthansa subsidiary LSG Sky Chefs. Lufthansa had already sold the European business to the Swiss company Gategroup in 2019.

The current transaction reportedly includes 131 LSG catering operations worldwide as well as in-flight sales with a combined workforce of around 20,000 people.

The group's airlines will remain customers of LSG for in-flight catering and service provision, according to the statement.

Lufthansa said that the divestment of the catering segment is part of its strategy to focus more on its airline business in future.

Chief financial officer Remco Steenbergen also referred to the sale of the booking service provider Airplus as well as the company's minority investment in the Italian state airline Ita.

The completion of the LSG sale is further evidence that the strategy is being implemented and the transformation of the corporation is being driven forward, Steenbergen said.

Lufthansa plans to present its figures for the third quarter of 2023 on Thursday.