Luxembourg Takes Lufthansa's Luxair Stake

Luxembourg has temporarily taken on Lufthansa's 13 percent stake in the country's flag carrier Luxair, but said it would sell it on at a later stage.

Lufthansa said in July it was considering selling its stake in the airline, but none of the other shareholders had bought the stake, leaving the stake to the Luxembourg government, the ministry of public works said in a statement.

"After the statutory procedures have been complied with, Luxembourg will offer the stake for sale, as it is only a temporary acquisition," the ministry said in a written statement.

Luxair has a fleet of 17 aircraft and connects Luxembourg to destinations in Europe.