LSG Buys Finncatering

Finnair has sold subsidiary Finncatering Oy to LSG Lufthansa Service Europa/Afrika. The transaction is part of the partnership agreement announced on August 1, 2012, in which LSG had the option to purchase Finncatering Oy and LSG Sky Chefs Finland Oy (formerly Finnair Catering Oy) shares. By acquiring Finncatering, LSG carries out the first phase of the option. Finncatering designs, markets and provides catering, food and bakery products and related services and customers include wholesale, retail and HoReCa companies and firms serving air and other passenger traffic. Sales to non-airline customers has doubled in the past two years and in 2013, Finncatering’s turnover was around €25m, but it is not thought the transaction will have a significant impact on Finnair’s earnings. Finnair CFO Erno Hildén said: “This transaction is a part of Finnair’s structural change and aims to focus on our core airline business."

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