Lufthansa in talks with investors over sale of aircraft maintenance business
Lufthansa is reportedly in talks to sell a stake in its aircraft maintenance business, Lufthansa Technik.
According to Reuters sources, the airline is to offload between 20 and 30 per cent of its stake and was attracting more interest from financial investors than rival firms.
The airline is also expected to commence talks with private equity backers in December, with a forecast valuation of between €6bn and €8bn (£5.2bn and £6.9bn).
This means the carrier could receive a few non-binding offers by January, German business newspaper Handelsblatt first reported.
Lufthansa declined to comment on the deal.
The news comes on the heels of Lufthansa returning to private ownership after the Berlin government offloaded its remaining stake, City PM reported.
“This brings the stabilisation of Lufthansa to a successful conclusion,” said chief executive Carsten Spohr on Wednesday. “Lufthansa is once again fully in private hands.”
At the height of the pandemic, the carrier was rescued by a €9bn rescue package from the German government’s economic stabilisation fund.
The company recently made the headlines as it suffered from both this summer’s travel chaos, which forced it to axe hundreds of flights, as well as staff strikes.