Aeroflot acquires Lufthansa's stake in Aeromar subsidiary

MOSCOW. Sept 1 (Interfax) - Aeroflot has acquired a 49% stake in Aeromar, Russia's largest in-flight catering company, from Germany's Lufthansa, with the deal having closed on September 1, Russia's flagship airline said.

President Vladimir Putin in March this year authorized Aeroflot to acquire Lufthansa's stake in Aeromar. The relative order permitted Aeroflot to acquire 4,900 ordinary shares in JSC Aeromar, owned by Truffle 2 GmbH, a Lufthansa affiliate.

Lufthansa alone had announced intentions to sell the stake in Aeromar back in September 2022.

Unified State Registry of Legal Entities (USRLE) data indicate that Aeromar was incorporated in 1995 and is based at Aeroflot's home airport of Sheremetyevo. The company had a workforce of nearly 4,000 personnel at the end of 2021.

Aeromar swung to a net loss of over 511 million rubles in 2024 from net profit of 63 million rubles in 2023 although revenue to Russian Accounting Standards jumped 37% to 19.4 billion rubles. The company said that rising costs of sales and increasing management and commercial expenses substantially pressured the financial results.