Lufthansa Eyes Sale Of Luxair Stake

Lufthansa is considering selling its 13 percent stake in Luxair and has contacted other shareholders, including the Luxembourg government, to discuss the matter.

Lufthansa, which has held a 13 percent stake in flag carrier Luxair since 1993, sounded out the possibility of a sale with the other shareholders as part of a regular portfolio review, a spokesman for the German airline said.

Luxembourg infrastructure minister Francois Bausch said in a public session of parliament he had received a letter from Lufthansa stating the company's intention to sell.

He declined to comment on what a sale would mean for Luxair, saying he would not discuss matters of a privately run company in public.

"There is currently no decision as to the next step," the Lufthansa spokesman said.

Luxembourg owns a 39 percent stake in Luxair, with the state savings bank holding almost 22 percent and private bank BIL just over 13 percent.

The remaining 13 percent is held by "LuxairGroup and others", according to the company's website.