Lufthansa Cargo has agreed to acquire 100% of LUG aircargo handling GmbH, adding around 50,000 sqm of warehouse capacity to its German ground handling network.
The cargo airline said the acquisition will provide immediately available handling capacity as it looks to support future growth and strengthen the resilience of its operations in its home market.
The deal comes as Lufthansa Cargo continues the €600 million LCCevo modernisation programme at its existing cargo hub infrastructure. The addition of LUG aircargo handling GmbH will complement that investment by providing further capacity without waiting for new facilities to be developed.
LUG aircargo handling GmbH, currently owned by the Dettmer Group, employs approximately 400 people and operates around 50,000 sqm of covered warehouse space in Germany, alongside a further 18,000 sqm of office and infrastructure space.
The company has more than 60 years of experience in air cargo handling and provides services to a number of international airline customers.
Lufthansa Cargo said LUG aircargo handling GmbH will continue to operate independently following the acquisition, retaining its existing structures and customer relationships. It added that customers of both businesses are not expected to see any changes as a result of the transaction.
Frank Bauer, chief operating officer of Lufthansa Cargo, said: “In an increasingly volatile market environment, we want to become more flexible, more efficient, and more resilient for our customers. That is why we are making targeted investments in our infrastructure in our home market in Germany to set the course to provide an even better offering for our customers and achieve profitable growth – this is a win-win situation for both companies.”
The transaction remains subject to antitrust and regulatory approvals.
