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The German government sells all the shares of "Lufthansa" / Earns 760 million euros

2022-09-15 20:37:00, Kosova & Bota CNA
The German government sells all the shares of "Lufthansa" / Earns 760
Illustrative photo

The German government has sold its shares in the German airline "Lufthansa".

Lufthansa is now a private company, after the government sold the last 10% of the shares to international investors, reaping a huge profit.

Germany's Economic Stabilization Fund spent 300 million euros on shares in Lufthansa in 2020, as part of a 9 billion euro rescue package for the airline, whose revenues fell sharply due to the Covid-19 pandemic.

The German government has gradually sold 20% of its shares and recently revealed that it has sold the last shares for 455 million euros.

The Economic Stabilization Fund (WSF) said on Tuesday that it has profited more than 1 billion euros from the sale of all its shares, exceeding the investment amount.

Specifically, WSF has revealed that the profit has reached the figure of 760 million euros from the investment.

On the other hand, with the improvement of the health situation from the pandemic and the easing of anti-Covid measures, "Lufthansa" has started to have more profits.

In the last three months to the end of June, the airline generated a net profit of 259 million euros, compared to a loss of 756 million euros in the same period last year./ BA - CNA.al





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