FRANKFURT (Dow Jones) — The Economic Stabilization Fund (WSF) has left Deutsche Lufthansa after more than two years with a profit of 760 million euros. “The stabilization of Deutsche Lufthansa AG has been successfully completed. The proceeds generated for the WSF from the sale of the shareholding in the amount of 1.07 billion euros significantly exceed the amount of 306 million euros used to acquire the stake,” said Jutta Dönges, who is responsible for the WSF as managing director of the finance agency. The participation of the WSF has now ended and Lufthansa is again in private hands.
In 2020, the aviation sector was one of the sectors hardest hit by the corona pandemic. The Economic Stabilization Fund agreed stabilization measures of up to 6 billion euros with Deutsche Lufthansa AG in June 2020, following state aid approval by the EU Commission. Of this, 5.7 billion euros were granted to the aviation company as silent participations, 300 million euros were added to the company through the acquisition of shares, whereby a shareholding of the WSF of around 20 percent was built up.
Lufthansa fully repaid the WSF’s silent participations by November 2021. After a partial sale of its shares and subsequent participation in the capital increase in 2021, the WSF’s stake was still 14.09 percent. On July 28, 2022, the WSF reported a shareholding after another partial sale of 9.92 percent. The WSF has now completely sold its last remaining shareholding to international investors as part of a block placement.
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(END) Dow Jones Newswires
September 14, 2022 00:22 ET (04:22 GMT)
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