Lufthansa to underpin liquidity by selling Amadeus stake

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German flag-carrier Lufthansa is to reinforce its liquidity by selling nearly half its remaining shareholding in global distribution system specialist Amadeus.

Lufthansa is to reduce its stake in Amadeus IT Holding from 7.61% to 4% by selling 16.2 million shares through an institutional private placement.

The carrier says this will "further strengthen its liquidity position", adding that it will transfer the remaining 4% to its pension trust.

Amadeus's stock has been trading at around €19.30 ($24.50) which would value the Lufthansa disposal at some €312 million.

Most of Amadeus's shares, nearly 83% of the stock, is freely traded. Air France-KLM has a 7.73% stake, while Iberia holds a share of 0.84%.

Lufthansa says the placement will include a hedging transaction by Air France-KLM covering 7.4 million shares. All three airlines have agreed a 90-day lock-up period of their remaining shareholdings in the company, says Lufthansa.