State could increase Luxair share

(CS/vb) The Luxembourg state could temporarily acquire Lufthansa's shares in Luxembourg air Luxair, Infrastructure Minister François Bausch revealed on Monday.

Speaking to Radio 100,7, Bausch said that the state might take over the shares until a new buyer is found. A similar procedure was carried out when Qatar Airways exited freight carrier Cargolux.

However, Bausch also expressed his discontent over Lufthansa's asking price, saying the German airline shuold not be under the illusion that the state will purchase the shares for a random, overpriced sum.

Lufthansa is dropping a 15 percent share in Luxair. The Luxembourg state currently holds 45 percent.

Following the announcement of the departure of the German partner earlier this year, Luxair struck its Frankfurt service from the schedule. The Luxembourg airline will, however, continue its Munich route.