April 30, 2019 / 5:08 PM / 3 months ago

Lufthansa flags increase in non-German shareholders

FILE PHOTO: A view of an office building of German airline Lufthansa in Frankfurt, Germany March 14, 2019. REUTERS/Ralph Orlowski/File Photo

FRANKFURT (Reuters) - Deutsche Lufthansa said the proportion of non-Germans among its investors rose to 41.7 percent, putting aviation licences at risk if the rate exceeds 50 percent, but the German carrier stopped short of buying back shares as a countermeasure.

“The company does not believe that there is any immediate danger of an increase of non-German shareholdings which would endanger the company’s ability to meet the requirements for retaining its licenses, rights and prerogatives under aviation law,” Germany’s largest airline said on Tuesday. “It currently does not intend to exercise its right to buy back its own shares.”

The rate of non-German shareholders stood at 29.5 percent in April.

Reporting by Ludwig Burger. Editing by Jane Merriman

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