The German government has reaped a €760mn profit from its rescue of Lufthansa at the height of the coronavirus pandemic, underlining the recovery of the country’s flag carrier.
Germany’s Economic Stabilisation Fund spent €300mn on shares in Lufthansa in 2020 as part of a €9bn rescue package for the airline, whose revenues collapsed as the governments closed down air travel in an effort to stop the spread of Covid-19.
The government has been gradually trimming its 20 per cent stake and late on Tuesday disclosed that it had sold its remaining 9.92 per cent holding. It has made proceeds of more than €1bn from selling its entire stake, comfortably exceeding the size of its investment.
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