Logistics entrepreneur Klaus-Michael Kuehne has increased his stake in Lufthansa to 17.5%, Kuehne Holding said, after the German government sold all its remaining shares in the airline.
The Economic Stabilization Fund of the Federal Republic of Germany (WSF) confirmed that all the remaining shares of its holding in Deutsche Lufthansa had been sold to various investors via an accelerated bookbuilding process. The WSF last held around 6.2% of the company's share capital (74.4 million shares). The WSF had acquired its original shareholding of 20% of the share capital of Deutsche Lufthansa for €306 million in the summer of 2020. It was agreed at the time that the holding would be sold by October 2023 at the latest.
Deutsche Lufthansa had already repaid all the loans and deposits it had received from the German government ahead of schedule in November 2021.
Following the sale of its remaining shares, the WSF no longer holds any equity stake in Lufthansa, and as a result, all remaining conditions also end.
Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG, said: "The stabilisation of Lufthansa was successful, and is also paying off financially for the German government and thus for the taxpayer. We had already repaid the stabilisation loan amounts earlier than expected; and the WSF has now also sold its last remaining shares one year before the deadline. This brings the stabilisation of Lufthansa to a successful conclusion. Lufthansa is once again fully in private hands. All Lufthansa employees worldwide will continue to work hard to strengthen our position among the world's leading airline groups, for example through a broad-based premium product and quality offensive."