Aurelius Group, a pan-European alternative investment firm, has purchased the remaining part of German-based Lufthansa AG‘s airline catering business, LSG Group, according to Bloomberg News.
Lufthansa has been looking for a buyer as the demand for short-haul routes versus longer flights and low-cost airlines, which offer food for a fee, gained market share. Lufthansa sold LSG’s European operations to Switzerland’s Gategroup in 2019. The sale looks to help Lufthansa reduce debt from the Covid-19 pandemic, which grounded many of its aircrafts.