AP

German government sells its last shares in Lufthansa

Sep 13, 2022, 1:05 PM | Updated: Sep 14, 2022, 1:07 am

FILE --Lufthansa aircrafts are parked at the airport in Frankfurt, Germany, Friday, Sept.2, 2022. (...

FILE --Lufthansa aircrafts are parked at the airport in Frankfurt, Germany, Friday, Sept.2, 2022. (AP Photo/Michael Probst,file)

(AP Photo/Michael Probst,file)


              FILE --Lufthansa aircraft are parked on a runway at the airport in Frankfurt, Germany, Sunday, March 15, 2020. (AP Photo/Michael Probst,file)
            
              FILE --Lufthansa aircrafts are parked at the airport in Frankfurt, Germany, Friday, Sept.2, 2022. (AP Photo/Michael Probst,file)

BERLIN (AP) — The German government has sold its last shares in the country’s biggest airline, Lufthansa, which it stepped in to rescue at the height of the coronavirus crisis.

The government’s Finance Agency said late Tuesday that the remaining stake of some 9.9% has now been sold to international investors. The agency’s head, Jutta Doenges, said the total proceeds from selling the government’s holdings came to 1.07 billion euros (dollars) — a significant gain over the 306 million euros for which the shares were acquired.

Doenges said that “the stabilization of Deutsche Lufthansa AG has been concluded successfully” and “the company is once again in private hands.”

Lufthansa, which also owns carriers including Austrian Airlines and Swiss, received a 9 billion-euro government rescue package in mid-2020. The German government took a 20% stake in the company.

In November, Lufthansa said it had paid back all the aid and canceled funds that it hadn’t tapped. It said it drew down about 3.8 billion euros of aid in total, including the 306 million euros that covered the stake taken by the government’s economic stabilization fund.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Image: A cargo ship is stuck under the part of the structure of the Francis Scott Key Bridge after ...

Associated Press

Authorities identify 2 bodies recovered at site of Baltimore bridge collapse

A major bridge in Baltimore snapped and collapsed after a container ship rammed into it early Tuesday, and several vehicles fell into the river below.

8 hours ago

Photo: Mountaineer Jim Whittaker has died at 95....

Gene Johnson, The Associated Press

Lou Whittaker, among the most famous American mountaineers, has died at age 95

Lou Whittaker, a legendary American mountaineer who helped lead ascents of Mount Everest, K2 and Denali, has died at age 95.

8 hours ago

File photo: Former Sen. Joe Lieberman speaks in Washington on Jan. 18, 2024....

Associated Press

Former Sen. Joe Lieberman, Democrats’ VP pick in 2000, dead at 82

Former U.S. Sen. Joe Lieberman of Connecticut, who nearly won the vice presidency on the Democratic ticket with Al Gore in 2000, has died.

9 hours ago

islamic state attack...

Vanessa Gera, The Associated Press

What we know after the Islamic State group claims responsibility for Moscow massacre

The Islamic State group has claimed responsibility for an attack on a suburban Moscow concert hall that killed at least 133 people.

4 days ago

Moscow shooting...

The Associated Press

Russia: 60 dead, 145 injured in concert hall raid; Islamic State group claims responsibility

Assailants burst into a concert hall in Moscow on Friday and sprayed the crowd with gunfire, killing over 60 people, injuring more than 100.

6 days ago

Photo: Britain's Kate, Duchess of Cambridge visits 282 (East Ham) Squadron, RAF Air Cadets, Cornwel...

Associated Press

Kate Middleton announces she has cancer, is undergoing chemotherapy

Kate Middleton, Princess of Wales, says she is undergoing chemotherapy to treat cancer. She has been out of view since Christmas.

6 days ago

German government sells its last shares in Lufthansa