Germany’s economic stabilisation fund has fully withdrawn its interest in flag-carrier Lufthansa, stating that its role in securing the company is complete.
The fund contributed to the airline through state-aid measures implemented in 2020 as the pandemic crisis took hold.
This aid took the form of a ‘silent’ participation of €5.7 billion and a €300 million acquisition of shares, giving the fund a 20% stake in the carrier.
Lufthansa repaid the ‘silent’ participation by November last year, and the fund subsequently began to cut back its stake, reducing it to less than 10% by the end of July this year.
But the fund says its remaining shareholding has been sold “in full” to international investors in a block placement.
“Stabilisation of [Lufthansa] has been successfully completed,” it adds.
“Participation of the [fund] ends with this pleasing balance sheet and the company is back in private hands.”
It points out that the shareholdings have generated €1.07 billion, a figure which “significantly exceeds” the €306 million acquisition cost.
