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

Logistics entrepreneur Klaus-Michael Kuehne has increased his stake in Lufthansa to 17.5%, Kuehne Holding said on Wednesday, after the German government sold all its remaining shares in the airline.

"This underlines Kuehne Holding's positive view of the company," Kuehne Holding added in a statement to Reuters.

The German government said on Tuesday it had sold off its 20% stake in Lufthansa, which it acquired during the coronavirus pandemic to keep the airline afloat, meaning that the company is now back in the hands of private investors. read more

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The state's economic stabilisation fund (WSF), which saved Lufthansa from bankruptcy during the pandemic with a bailout package totalling 9 billion euros ($9.02 billion), had progressively reduced its stake in recent years with the aim of offloading it completely by October 2023.

After the sale of its remaining shares, the WSF no longer holds a stake in Lufthansa.

"This brings the stabilisation of Lufthansa to a successful conclusion. Lufthansa is once again fully in private hands," Lufthansa CEO Carsten Spohr said in a statement.

($1 = 0.9982 euros)

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