Logistics entrepreneur Klaus-Michael Kuehne has elevated his stake in German flag-provider Lufthansa, getting the largest solitary shareholder in the company.
Lufthansa Group filings show that Kuehne lifted his stake on 5 July from just over 10% to a small more than 15%.
The organization states that its shareholder structure, as of 6 July, was led by Kuehne Aviation, ahead of the German government’s economic stabilisation fund at 14.09%.
This fund had taken a passive stake in Lufthansa Team in 2020 in get to aid the enterprise with assuaging money force brought on by the pandemic.
But the fund has been reducing its monetary involvement in the carrier and Kuehne experienced by now hiked his shareholding in Lufthansa to around 10% in April.
Kuehne continues to be the the greater part owner of logistics firm Kuehne + Nagel with about 53% of the corporation, of which he is also honorary chair.
He also has a substantial shareholding, 30%, in the shipping organization Hapag-Lloyd, by way of his Kuehne Maritime division.
Kuehne’s amplified desire in Lufthansa Team – which has its personal individual air cargo procedure – parallels a recent craze for nearer ties amongst transport, logistics and the air transport sector.
French logistics agency CMA CGM has come to be concerned in the air cargo small business, and is setting up a fleet of committed freighters, and has lately picked up a considerable shareholding in Air France-KLM.
Lufthansa Team, in transform, has tied up with shipping and delivery organization MSC in a joint bid to purchase a shareholding of Alitalia successor ITA Airways.