Tourexpi
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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