
Lufthansa erwägt laut Insidern Börsengang von Lufthansa Technik
Lufthansa Technik could go public. This would enable the Lufthansa subsidiary to generate funds for investments in digitalization.
According to informed circles, Deutsche Lufthansa AG is considering Lufthansa Technik's IPO in order to finance the expansion of the subsidiary and to increase the airline's market value. In addition, the group is examining the spin-off of a part of the division, said the people who did not want to be named, since the discussions are not public. However, the stock exchange placement of one of the world's largest maintenance companies for jet aircraft is more likely, it said.
According to the information, the discussions are at an early stage and no final decision has yet been made. A Lufthansa spokesman declined to comment.
A partial IPO would help Lufthansa Technik generate funds for investments in digitization or acquisitions, the people said. The considerations come at a time when Lufthansa is changing to a holding structure, with a stronger separation of the various corporate divisions.
According to analysts, the reorganization will enable Lufthansa to better distribute capital within the company and to eliminate the so-called conglomerate discount that burdens the share price.
According to Bloomberg intelligence analyst George Ferguson, the division has a company value of around EUR 7.5 billion - more than Lufthansa's market capitalization of around EUR 6.9 billion.
The unit generated sales of € 5.15 billion and an adjusted operating profit (EBIT) of € 371 million in the first nine months of 2019, according to the company's latest financial report. The division employs around 26,000 people worldwide.
