Billionaire Klaus-Michael Kühne, who is considered the richest German, has become the largest shareholder in Lufthansa after increasing his stake from 10% to 15%, the airline said. Lufthansa shares rose 2.4% after news of the change in share ownership.
14% of the company’s shares are owned by the German government, which saved the airline from bankruptcy during the pandemic. The amount of the transaction has not been announced yet, but at the price of the shares today, such a share is worth 330 million euros.
Klaus-Michael Kühne is among the most influential businessmen in Germany. In a Bloomberg ranking, he was named the richest person in the country in 2021. At the moment, he occupies the second place among the billionaires of Germany in the ranking of the magazine “Forbes” with a fortune of 32.7 billion dollars.
Lufthansa, like other major European airlines, is facing staff shortages in the sector at a time of increased demand for flights. The airline has already canceled over 3,000 flights.
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