April 12, 2024
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Yesterday, German airline company Lufthansa announced that it has reached an agreement to sell its corporate payment services provider, AirPlus, to Swedish bank SEB for a total of 450 million Euros. The sale is part of Lufthansa’s strategy to focus on its core business and follows the recent sale of food services provider LSG Group and the acquisition of minority stakes in Italy’s flag carrier airline ITA.

AirPlus, a business travel payment service provider, operates globally with its international subsidiaries and branches. The agreement includes the sale of Lufthansa AirPlus Servicekarten GmbH in Neu-Isenburg, Hesse, Germany. The transaction is expected to be finalized in the first half of next year, pending necessary approvals.

Despite the sale, AirPlus will remain a member of the global payment network UATP, ensuring its continued presence in the industry. Lufthansa anticipates a positive impact on its operating profit as a result of divesting AirPlus, given the company’s capital-intensive business model.

The sale of AirPlus marks another significant step for Lufthansa Group in streamlining its operations and concentrating on its core competencies. With this divestment, Lufthansa aims to further enhance its profitability and strategic focus in the aviation sector.

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