Germany to sell up to a quarter of its Lufthansa stake
Lufthansa German Airlines plans to sell a quarter of its 20% stake in over the coming weeks.
The German finance agency said on Monday that there was positive development at the bailed-out airline.
Lufthansa shares fell as much as 4.9% to 8.81 euros in early trade after the announcement.
The state’s 20% stake was acquired for 300 million euros ($353.67 million) as part of a bailout for the German carrier as the company and the entire aviation sector took a battering from the-3.17%.
The state’s 20% Lufthansa had received was a 9 billion euro package from Germany’s economic stabilisation fund (WSF), which was set up to help companies to ride out the pandemic.
The WSF has said it would sell the complete stake, which is currently worth more than 1 billion euros, before the end of 2023.
Shareholders have approved a potential capital increase of up to 5.5 billion euros.
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