Lufthansa to sell Luxair shares

(CS/aa) German airline Lufthansa is planning on selling its 13 percent share in Luxair, Infrastructure Minister François Bausch has confirmed.

Lufthansa has been a shareholder of Luxair for over 20 years. Only a few years ago there were plans for the German airline to increase its share to 20 percent.

However, minister Bausch has now confirmed to the “Luxemburger Wort” that Lufthansa has voiced plans to sell its 13 percent share in a letter addressed to the ministry. The German airline said that it is reorganising its portfolio, dropping shares that do not hold any real influence.

Luxair shares are currently distributed as follows: 

Shareholders are set to meet to discuss how to proceed.

Chairman of the board at Luxair Paul Helminger meanwhile said he did not want to comment as Lufthansa had contacted the Luxembourg government and not Luxair in the matter.

The decision of Lufthansa to leave the partnership with Luxair also calls into question what will happen with routes to Frankfurt and Munich operated by the Luxembourg airline for its German partner.