October 1, 2022

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Kuehne raises Lufthansa stake to 17.5% as Germany sells remaining shares

BERLIN/ZURICH (Reuters) -Logistics entrepreneur Klaus-Michael Kuehne has elevated his stake in Lufthansa to 17.5%, Kuehne...

BERLIN/ZURICH (Reuters) -Logistics entrepreneur Klaus-Michael Kuehne has elevated his stake in Lufthansa to 17.5%, Kuehne Holding stated on Wednesday, after the German authorities bought all its remaining shares within the airline.

“This underlines Kuehne Holding’s optimistic view of the corporate,” Kuehne Holding added in an announcement to Reuters.

The German authorities stated on Tuesday it had bought off its 20% stake in Lufthansa, which it acquired in the course of the coronavirus pandemic to maintain the airline afloat, that means that the corporate is now again within the fingers of personal traders.

The state’s financial stabilisation fund (WSF), which saved Lufthansa from chapter in the course of the pandemic with a bailout bundle totalling 9 billion euros ($9.02 billion), had progressively lowered its stake lately with the purpose of offloading it utterly by October 2023.

After the sale of its remaining shares, the WSF now not holds a stake in Lufthansa.

“This brings the stabilisation of Lufthansa to a profitable conclusion. Lufthansa is as soon as once more totally in non-public fingers,” Lufthansa CEO Carsten Spohr stated in an announcement.

($1 = 0.9982 euros)

(Writing by Rachel Extra and Paul CarrelEditing by Madeline Chambers and Miranda Murray)

 

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