Lufthansa is looking to merge the European operations of its catering unit LSG w...
FRANKFURT - Lufthansa is looking to merge the European operations of its catering unit LSG with a peer as it struggles with low margins in a competitive market on the continent, people close to the matter said.
Austria’s Do&Co and Switzerland’s Gategroup are expected to make offers for the European LSG operations, the people said, adding that given its low profitability and low expected value even medium-sized Do&Co could do a deal without a partner. The catering business is challenged by a large number of locations it serves, high staff costs and exposure to currency exchange rates, Lufthansa’s Chief Executive Carsten Spohr said recently.
Gategroup is owned by Chinese conglomerate HNA, whose current financial strains may dissuade the company from doing a major cash deal, people familiar with the matter have said in the past.
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