Lufthansa selling off its stake in Sky Chefs, hires banker
Excerpt from Bloomberg
Lufthansa has hired an investment banking adviser to push ahead with the sale of a stake in the world’s biggest inflight caterer…it has mandated JPMorgan Chase to help seek a buyer for LSG Sky Chefs.
U.S.-based Sky Chefs provides 492 million meals to over 300 airlines around the world, and has a market share as high as 40 percent in the U.S. and Europe, according to its website. Last year, revenue totaled 2.3 billion euros and the unit has more than 28,000 employees. Sky Chefs has around 200 kitchens, ranking it world No. 1 ahead of Zurich-based Gategroup, which has 130.