Finnair and LSG Sky Chefs sign partnership agreement
Neu-Isenburg, Germany/Helsinki, Finland – Finnair and LSG Sky Chefs Group have signed a partnership agreement, according to which LSG Sky Chefs (LSG) will assume full managerial and operational responsibility for the in-flight and catering service provider Finnair Catering Oy (Finnair Catering), based in Helsinki. The partnership aims at further improving the quality and cost-effectiveness of catering services offered to Finnair’s customers.
The five-year partnership agreement will become effective today, August 1, 2012. De-spite the transfer in control over its operations, this agreement does not result in chang-es in the employment contracts or employment terms of Finnair Catering’s personnel. According to the partnership agreement, LSG Sky Chefs Group has the right to acquire Finnair Catering Oy’s share capital for a pre-determined price during the agreement period.
"We are very pleased with this partnership agreement. It enables us to offer first-class catering services to our passengers, and at the same time, it allows us to meet the targets set for the restructuring of our catering operations," said Kaisa Vikkula, Finnair Executive Board Member.
"This agreement is an excellent strategic move for LSG Sky Chefs because it allows us to enter the Finnish market, which represents a major hub for flights to Asia," comment-ed Jochen Müller, LSG Sky Chefs’ Chief Operating Officer. "We see many opportu-nities in developing Finnair’s catering operations and deepening our cooperation in the years to come," added Silvio Canettoli, LSG Sky Chefs’ Chief Operating Officer Europe.
Finnair Catering will remain a wholly owned subsidiary of Finnair, but its name will be changed to LSG Sky Chefs Finland Oy.
The LSG Group is the world’s leading provider of end-to-end onboard products and services for the travel industry. It possesses a strong portfolio of independent expert brands: LSG Sky Chefs (catering and hospitality, including lounges), Retail inMotion (onboard retail), SPIRIANT (onboard equipment) and Evertaste (convenience food). The LSG Group is headquartered in Neu-Isenburg, near Frankfurt, Germany. In 2017, its almost 35,000 employees achieved consolidated revenues of EUR 3.2 billion. Additionally, the LSG Group has a rich network of joint ventures and partnerships partners around the globe, employing more than 20,000 staff and generating non-consolidated revenues of EUR 1.3 billion. www.lsg-group.com