Germany's Lufthansa sells catering business to private equity group

German airline Lufthansa and private equity group AURELIUS have reached an agreement for the sale of the catering business LSG, the airline announced on Wednesday.
The company noted that the divestment of the catering segment is part of its strategy to focus more on its airline business in the future.
The transaction is expected to have a positive effect on Lufthansa Group's adjusted earnings before interest and taxes (EBIT) and adjusted return on Capital Employed (ROCE).
The carve-out deal includes all classic catering, onboard retail and food commerce activities and brands of the LSG Group.