Lufthansa announced that it has agreed to sell its subsidiary ‘AirPlus’ for around 450 million Euros.

Lufthansa explained in a statement that Swedish bank SEB group will take over ‘AirPlus’, signifying that the transaction would be made in the first half of next year.

Moreover, getting the necessary external approvals, particularly from different external financial bodies, was a requirement for concluding the transaction.

Lufthansa has been seeking a buyer for ‘AirPlus’ for a while before ceasing the search. The transaction, together with the sale of Lufthansa Air Plus, includes the sale of all international owned companies and all their premises.

‘AirPlus’ is expected to remain a member of the Universal Air Travel Plan (UATP) Global Payment Network after the transaction.

Source: Qatar News Agency