Frankfurt (Reuters) -Lufthansa said late Wednesday that Klaus-Michael Kuehne, a German logistics entrepreneur, has raised his share of Lufthansa from 10% to 15%, Lufthansa said. This makes him the largest shareholder in the German flag carrier.
When the market opened on Thursday, shares of the airline were up 2.4% because of the news. At the end of trading on Wednesday, 5% of Lufthansa’s shares were worth about 330 million euros ($337 million).
Kuehne’s share of Lufthansa went up to 10% in April, which was the most recent time he did this. The German government owns about 14% of Lufthansa through its Economic Stabilization Fund.
Kuehne has said before that he wanted to be a stable, long-term partner for Lufthansa.
The German billionaire also owns most of the Swiss logistics company Kuehne & Nagel and has a 30% share in the shipping company Hapag-Lloyd AG.
($1 = 0.9792 euros)
