14 September 2022

German Government Ends Financial Involvement in Lufthansa

International and Arabic
  • GERMANY

Berlin, September 14 (QNA) - Germany's Economic Stabilization Fund has sold its last remaining stock in Lufthansa for 1.07 billion euros, the country's finance agency said.

The sale of just under 10 percent of Lufthansa's shares to international investors in a block placement has earned the German government a significant profit on the 306 million euros it spent buying the stock in June 2020 as the airline faced bankruptcy due to the coronavirus pandemic.

"The company is again in private hands," said Finance Agency Managing Director Jutta Donges, adding that Lufthansa's financial stabilization had been successfully completed.

The aviation sector was one of the hardest hit in the coronavirus pandemic, and the German government stepped in to support Lufthansa with a bailout worth around 6 billion euros in June 2020.

(QNA)



Keywords

Economy, International
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