The state will sell its stake in Lufthansa in the next two years

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The state will sell its stake in Lufthansa in the next two years

23.09.2021 News

The Fund for Economic Stability (WSF), created by the German government, saved the largest German airline from bankruptcy after the collapse of air traffic in March 2020 with billions of infusions, but now there is a way out of the crisis, the concern said. Lufthansa intends to return to the state by the end of the year funds from both anti-crisis aid packages provided to the concern in the total amount of nine billion euros, of which it spent 2.5 billion euros. At the same time, 1.5 billion of the money used will be paid in October, it is noted further.

“We have always emphasized that we will use the aid package for as long as we need it,” said Carsten Spohr, head of Lufthansa.

WSF has already sold part of its shares in Lufthansa on the stock exchange. According to the concern, today the state still owns almost 16 percent of the authorized capital. No sooner than six months after the increase in Lufthansa’s capital, the Economic Stability Fund will start selling its remaining stake, and this process should be completed in two years at the latest.

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