LSG uses its option to acquire Finncatering

Finnair has today sold its subsidiary Finncatering Oy LSG Lufthansa Service Europa/Afrika GmbH (LSG). The transaction is part of the partnership agreement announced on 1 August 2012, according to which LSG has an 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. The company's customers include wholesale, retail and HoReCa companies as well as companies serving air and other passenger traffic. Finncatering’s take-away products are sold under company’s own GO! brand and as white label products.

Sales to non-airline customers has doubled in the past two years. Finncatering’s turnover in 2013 was approximately EUR 25 million. The company employs approximately 200 employees.

The transaction will not have a significant impact on Finnair's 2014 earnings.

”This transaction is a part of Finnair’s structural change and aims to focus on our core airline business. We are pleased that the buyer is familiar with Finncatering’s business thanks to the long-term co-operation. LSG has also excellent qualifications to develop and enhance Finncatering’s operations,” says Finnair CFO Erno Hildén.

Further information:
Finnair Media Desk, 358 9 818 4020, comms(a)finnair.com  
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About Finnair

Finnair is specialised in fast connections between Europe and Asia via Helsinki. The airline carries more than eight million passengers annually and connects 13 cities in Asia with more than 60 destinations in Europe. The airline, a pioneer in sustainable flying, operates a young, modern fleet and is the first airline listed in the Leadership Index of the worldwide Carbon Disclosure Project. The only Nordic carrier with a 4-star Skytrax ranking, Finnair has also won the World Airline Award for Best Airline Northern Europe for the past four years running. Finnair is a member of oneworld, the alliance of the world's leading airlines committed to providing the highest level of service and convenience to frequent international travellers.