After bailout, government sells Lufthansa stake with million-euro profit
Germany’s flag carrier airline Lufthansa is once again a private company after the federal government sold its final 10-percent stake, making a tidy profit in the process.
German government sells final Lufthansa shares for a profit
Back in the summer of 2020, at the peak of the first wave of the coronavirus pandemic when travel restrictions were grounding flights at airports all over the world and airlines were ailing, the federal government stepped in to help out Lufthansa, contributing stabilisation measures worth up to 6 billion euros.
A good two years later, the government’s state economic stabilisation fund (WSF) has transferred its remaining 74,4 million Lufthansa shares to international investors - 12 months ahead of its autumn 2023 deadline - netting a cool 455 million euros.
“Pleasing balance sheet”
In total, the WSF has made 1,07 billion euros from the sale of all of its Lufthansa shares - a profit of around 760 million euros, according to a statement from the finance agency.
Jutta Dönges, outgoing head of the WSF, told ntv, “The participation of the WSF ends with this pleasing balance sheet and the company is back in private hands.”