Deutsche Lufthansa: reimburses Silent Participation I to the Economic Stabilization Fund



  • Capital increase successfully completed – new shares are traded from today

  • The proceeds of the capital increase go directly to the reimbursement of the stabilization funds of the German Economic Stabilization Fund (ESF)

  • Full refund and cancellation of ESF Silent Participations I and II scheduled before the end of the year

With the finalization of the capital increase today, Deutsche Lufthansa AG has fully reimbursed the amount of 1.5 billion euros withdrawn from the silent participation I of the Economic Stabilization Fund of the Federal Republic of Germany (ESF) . With this, Deutsche Lufthansa AG settled a large part of the currently outstanding stabilization measures of the ESF. The repayment was made much earlier than initially expected.

The gross proceeds of the capital increase amounted to 2.162 billion euros. The new shares have been traded on the Frankfurt Stock Exchange since today. The capital increase is therefore carried out.

Carsten Spohr, CEO of Deutsche Lufthansa AG, says:

“We are very grateful that Deutsche Lufthansa AG has been stabilized with tax money in the most difficult times. This has made it possible to preserve more than 100,000 jobs and to secure them for the future. Today, we are keeping our promise and repaying a large part of the stabilization funds sooner than planned. We are more and more confident in the future. More and more countries are opening their borders and the demand for air travel, especially from business travelers, is increasing every day. Nevertheless, the airline environment remains difficult. This is why we are systematically pursuing our transformation. Our goal remains unchanged: the Lufthansa group will continue to defend its position among the world’s top 5 airline groups.

Following today’s reimbursement of Silent Participation I, the Company also intends to fully reimburse Silent Participation II of € 1 billion before the end of 2021 and to terminate the unused portion of Silent Participation I as well. before the end of 2021. A KfW loan of 1 billion euros has already been repaid earlier than expected (February 2021). The ESF, which now holds 14.09% of the capital, has undertaken not to sell any shares in the company within six months of the completion of the capital increase. However, the transfer of the participation must be carried out no later than 24 months after the completion of the capital increase, provided that the Company has reimbursed Silent Participations I and II as planned and that the contractual conditions are met.


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This announcement does not constitute an offer to sell or a solicitation to buy any securities. Any offer is made exclusively by means of and on the basis of a prospectus to be published in Germany, supplemented by additional information relating to the offer outside Germany. The prospectus will be available free of charge from Deutsche Lufthansa Aktiengesellschaft, Venloer Straße 151-153, 50672 Cologne, Germany, or on the website of Deutsche Lufthansa Aktiengesellschaft at;

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In connection with the sale of the shares, the underwriters and one of their affiliates may take part of the securities in the offering as their principal title and, as such, may hold, buy, sell, offer to sell for their own account, such shares and other securities of the Company or related investments in connection with sale or otherwise. Accordingly, references in this announcement to shares sold, offered, subscribed, acquired, placed or otherwise dealt with should be read to include any issue or offer to, or subscription, acquisition, placement or transaction by any of the Underwriters and any of their affiliates acting in this capacity. In addition, one of the Underwriters and one of their affiliates may enter into financing arrangements (including swaps or contracts for difference) with related investors with whom the Underwriters and one of their affiliates may from time to time acquire, hold or dispose of securities of the Company. The Underwriters do not intend to disclose the extent of any such investments or transactions other than in accordance with any legal or regulatory obligation to do so.

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This announcement also contains certain financial measures that are not recognized by International Financial Reporting Standards (“IFRS”). These non-IFRS measures are presented because the Company believes they and similar measures are widely used in the markets in which it operates as a means of assessing the operating performance and funding structure of a business. They may not be comparable to other measures with the same name of other companies and are not measures under IFRS or other generally accepted accounting principles.

This announcement does not claim to contain all the information necessary to assess Deutsche Lufthansa Aktiengesellschaft and / or its respective financial situation. Financial information (including percentages) has been rounded according to established business standards. Certain market data regarding Deutsche Lufthansa Aktiengesellschaft included in this announcement comes from third party sources. Third-party industry publications, studies and surveys generally indicate that the data they contain has been obtained from sources believed to be reliable, but that there is no guarantee as to the fairness, quality , the accuracy, relevance, completeness or sufficiency of this data. These research and estimates, as well as their methodology and underlying assumptions, have not been verified by any independent source for their accuracy or completeness and are subject to change without notice. Accordingly, Deutsche Lufthansa Aktiengesellschaft expressly disclaims any liability for this information and one should not place undue reliance on this data.


Deutsche Lufthansa AG published this content on October 11, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on October 11, 2021 04:51:05 PM UTC.



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