Logistics entrepreneur Kuehne overtakes state as largest Lufthansa shareholder | News

Logistics entrepreneur Klaus-Michael Kuehne has elevated his stake in German flag-carrier Lufthansa, starting to be the largest single shareholder in the business.

Lufthansa Group filings clearly show that Kuehne elevated his stake on 5 July from just above 10% to a very little additional than 15%.

The firm states that its shareholder construction, as of 6 July, was led by Kuehne Aviation, forward of the German government’s financial stabilisation fund at 14.09%.

This fund had taken a passive stake in Lufthansa Team in 2020 in purchase to guide the enterprise with alleviating fiscal pressure caused by the pandemic.

But the fund has been lessening its money involvement in the provider and Kuehne experienced now hiked his shareholding in Lufthansa to about 10% in April.

Kuehne continues to be the bulk owner of logistics business Kuehne + Nagel with all over 53% of the firm, of which he is also honorary chair.

He also has a considerable shareholding, 30%, in the shipping and delivery business Hapag-Lloyd, by way of his Kuehne Maritime division.

Kuehne’s enhanced curiosity in Lufthansa Group – which has its individual separate air cargo procedure – parallels a recent development for closer ties between shipping, logistics and the air transportation sector.

French logistics company CMA CGM has come to be associated in the air cargo business enterprise, and is building a fleet of devoted freighters, and has a short while ago picked up a substantial shareholding in Air France-KLM.

Lufthansa Team, in flip, has tied up with delivery organization MSC in a joint bid to acquire a shareholding of Alitalia successor ITA Airways.