Post Date : July 8, 2022
Kuehne+Nagel’s Klaus Michael Kühne – the German billionaire – has increased his stake in Lufthansa to 15.01% on 7th July. Kühne had doubled his share to 10% recently in April and said at the same time that the investment in Deutsche Lufthansa represents an excellent rounding off of the existing portfolio. The news was shared on Lufthansa’s website on 5th July, following which, Lufthansa’s stocks were boosted by 3%. The approximate cost of a five percent share in Lufthansa at the close of Wednesday’s stock exchange was USD 337 million.
We are delighted with the investment and see it as a vote of confidence in the Lufthansa Group’s strategy and our future prospects.”~ A statement by Lufthansa
He is now the largest shareholder in the airline behind the German state, which owns 14.1% through Germany’s Economic Stabilisation Fund (WSF), after it stepped in with a rescue package during the pandemic. Analysts argue in favour of having primary private investors as they can act as a safety net in times of uncertainty.
Kühne owns the dominating share in Kuehne+Nagel, the Swiss logistics company, and 30% stake in container shipping company Hapag-Lloyd AG.