GERMANY, Frankfurt. Lufthansa may divest the European business of its subsidiary.
The Swiss Gategroup may purchase the LSG Group's European business. The supervisory board of Deutsche Lufthansa AG approved the transaction this week. The contract is to be finalized and to be signed in the coming days. The Lufthansa Group and Gategroup will inform about its contents according to the media release. However, the responsible antitrust authorities still have to give their approval.
The sale is part of the new strategy of the Lufthansa Group, which wants to concentrate more on the airline business in the future. At the same time, the sale offers the new owner the opportunity to further develop its catering business.
Gategroup, headquartered in Zurich, is currently the market leader in in-flight catering with a turnover of 4.9 billion euros. Together with LSG (sales of 3.2 billion euros), this would create a new heavyweight in the market. LSG Sky Chefs employs around 35,000 people worldwide, 7,000 of them in Germany.