The Luxembourg government has acquired Lufthansa"™s 13% stake in national carrier Luxair, a Lufthansa spokesperson confirmed to ATW in Frankfurt.
"The deal was completed Nov. 6," the spokesperson said without giving financial details. "To our understanding, the government will take these shares temporarily."
The Luxembourg government said the shareholding will be placed on the market when all regulatory requirements have been met, according to several media reports.
An official spokesperson from the Luxembourg government could not immediately be reached.
In 1992, Lufthansa bought a 13% stake in Luxair, in which the Luxembourg government holds 39%, along with several banks including Banque Internationale à Luxembourg.
LuxairGroup, parent of Luxair, reported a 2014 net profit of €9.7 million ($11.8 million), a more than fivefold increase compared to the year-ago period…
