Lufthansa is selling the international catering subsidiary LSG, which has been up for sale for three years, to the financial investor Aurelius. Subject to official approvals, the business will take place in the third quarter, the companies announced on Wednesday. No information was given about the purchase price. However, Lufthansa assumes that the sale will have a positive effect on the operating margin. Meanwhile, Aurelius announced that he wanted to expand the catering. Lufthansa decided in 2019 to separate from its catering division LSG Sky Chefs. The European business with around 7,100 employees was sold to the Swiss Gategroup for 1.1 billion euros at the end of the same year. Because of the pandemic, however, the sale of the remaining shares was put on hold. Before the pandemic, the LSG Group, which offers other services in addition to catering, generated sales of EUR 3.2 billion and an operating result of EUR 115 million with a total of 35,500 employees. In Germany, LSG had almost 6,000 full-time positions. LSG Sky Chefs provided meals to more than 300 airlines and also European rail operators at 205 airports worldwide.
Lufthansa separates from the remains of the catering subsidiary LSG – Wirtschaft
