Del Vecchio Family Buys Stake In Luxair

Italian business family Del Vecchio has bought the 13 percent stake in Luxair the Luxembourg government had put up for sale earlier this year.

Luxembourg had inherited the stake from Lufthansa and said in November it would look for a buyer.

The Del Vecchio family, best known for having a majority stake in Italian eyewear group Luxottica, bought the stake for an undisclosed sum, the Luxembourg government said.

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