A Billionaire Is The Lufthansa Group’s New Largest Shareholder - Simple Flying

A March 26th report indicates that German industrialist Heinz Hermann Thiele has increased his ownership of the Lufthansa Group to become the airline companies’ biggest single shareholder.

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Heinz Hermann Thiele doubles his stake in the Lufthansa Group. Photo: Lufthansa

According to the aviation website, CH-Aviation quoting a stock market filing, the 78-year-old Munich-based billionaire has increased his stake in the Lufthansa Group from 5.29% to 10.01%.  The decision to almost double his stake in the airline group follows a steep decline in the company’s share price due to the coronavirus pandemic which started in Wuhan, China.

Lufthansa shares have lost a third of their value

The purchase of the new shares, which was completed on March 16th, 2020, saw Thiele increase his ownership of the Lufthansa Group by 22.6 million shares or in monetary terms 195.5€ million (US$212 million).

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Shares in all airlines have gone down. Photo: Lufthansa

Shares in the Lufthansa Group, just like in all airline companies have plummeted following the COVID-19 crisis with the current price as of March 25th, trading at 9.51€ ($10.31) down a third in price from the February 19th, 2020, price of 15.40€ ( $16.70).

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Warren Buffet snapping up Delta stock

Perhaps Thiele was taking a lead from Warren Buffet’s multinational conglomerate holding company Berkshire Hathaway and its purchase of one million
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