Miles & More bonus programme to be moved to a subsidiary

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Courtesy: Deutsche Lufthansa AG.

Courtesy: Deutsche Lufthansa AG.

Executive Board and Supervisory Board of Deutsche Lufthansa AG propose moving the Miles & More bonus programme to a subsidiary of Deutsche Lufthansa AG to the Annual General Meeting

The Miles & More bonus programme is to be even more successful in its own company and will become more attractive for customers through additional programme partners. Revenue and profit should grow at a constant level in the coming years. The Supervisory Board of Deutsche Lufthansa AG last Wednesday approved an internal restructuring with regard to the customer loyalty programme, which is the leader in Europe with more than 25 million participants in Europe.

The activities of the Miles & More bonus programme are to be bundled by moving and consolidating it in an independent company. The management and governance of the Miles & More bonus programme will be outsourced from Deutsche Lufthansa AG to the direct subsidiary Miles & More International GmbH. The subsidiary Lufthansa WorldShop GmbH will also be merged with Miles & More International GmbH. Miles & More International GmbH will operated under the name Miles & More GmbH in future and will conduct business from a single source.

The shareholders of Deutsche Lufthansa AG are to vote on the planned outsourcing of Miles & More at the upcoming Annual General Meeting on 29 April 2014.

Source: Deutsche Lufthansa AG.

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