The German state ceased to be a shareholder of the Lufthansa airline group and obtained a profit of 760 million euros, after selling the shares it owned, two years after having rescued the company from the pandemic.
The Finanzagentur des Bundes (similar to the Treasury) reported that “the stabilization of Deutsche Lufthansa was successfully completed.”
The total proceeds from the sale of the State’s stake in Lufthansa amounts to 1,070 million euros and exceeds the cost of acquiring the shares of 306 million euros, which represents a capital gain of 760 million euros for the German State.
“With this satisfactory balance, the participation of the economic stabilization fund ends and the company is once again in private hands,” said the CEO of Finanzagentur, Jutta Dönges.
The German state rescued Lufthansa in June 2020 for 6,000 million euros due to the problems it was facing after the ban on air travel to curb the new coronavirus pandemic.
The German State acquired shares for 300 million euros, taking 20% of the airline, which has already been sold in full.
Source: TSF
