Lufthansa Group sells payment specialist AirPlus to SEB Kort - Get updated on what's happening in tourism!



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Lufthansa Group sells payment specialist AirPlus to SEB Kort
The Lufthansa Group has signed an agreement with SEB Kort Bank AB of Stockholm, Sweden, for the sale of Lufthansa AirPlus Servicekarten GmbH. The purchase price amounts to around 450 million euros.
Lufthansa Group sells payment specialist AirPlus to SEB Kort

Remco Steenbergen, Chief Financial Officer of Deutsche Lufthansa AG, says: "We are pleased to have found a strong new owner for AirPlus from the financial industry. SEB Kort brings along a great amount of experience in the payment business and has the full support of the AirPlus management. AirPlus is perfectly positioned in the market and, as part of a larger financial group, will be able to realize its potential better than in the Lufthansa Group. In turn, it enables us to focus even more on further improving the profitability and capital returns of the Lufthansa Group core business. My thanks goes to the employees of AirPlus. They have made their company a global leader in B2B payment services."

In addition to Lufthansa AirPlus Servicekarten GmbH in Neu-Isenburg, the transaction includes all international subsidiaries and branches of AirPlus. AirPlus will remain a member of the global payment network UATP after the sale. After completion of the transaction, AirPlus will focus on the further growth of the business with the support of the new owner, exploit opportunities in the B2B payment sector and continue to shape the market, leading with quality and innovation.

“After both signings – of the divestment of the LSG Group in April and of the recent agreement on a shareholding in ITA – the sale of AirPlus is the next major step in the Lufthansa Group strategy to focus on its core business going forward,” says Remco Steenbergen. “Selling two Group companies and agreeing on a stake in ITA – all in less than three months – clearly shows our determination in executing this strategy.”

The transaction is expected to have a positive effect on the Lufthansa Group’s operating margin (Adjusted EBIT) and, also given the capital-intensive business model of AirPlus, its return on capital employed (Adjusted ROCE).

Image Credit: © Lufthansa Group


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