Home » Business » SHARE IN FOCUS 2: Lufthansa turned positive – MDax balance so far weak 06/29/20

SHARE IN FOCUS 2: Lufthansa turned positive – MDax balance so far weak 06/29/20

(new: course in the afternoon, message about the summer flight schedule)

FRANKFURT (dpa-AFX Broker) – The shares of the crisis-ridden Lufthansa have not taken a step into the MDAX since their Dax (DAX 30) move a week ago. On Monday they temporarily slipped to the lowest price since the end of May at EUR 8.594, but shook off their losses in late trading and closed 0.20 percent higher at EUR 9.012.

The papers did not benefit from the news that the airline plans to bring half the fleet back into the air in the summer flight schedule. Rather, a strong overall market helped them in the afternoon.

In a week of MDax membership, Lufthansa shares lost more than 11 percent. Since their interim high a good three weeks ago, the losses even add up to more than 28 percent. At that time, like the entire travel and leisure sector, they had benefited from the gradual disappearance of global travel restrictions, rising to € 12.56, the highest level since the end of February.

The days before had been weighed down by doubts as to whether the state bailout package would be adopted at the general meeting last Thursday. The relief after the shareholders’ approval of the rescue package only lasted briefly afterwards.

After an interview with “Bild am Sonntag”, major shareholder Heinz Hermann Thiele now announced a “painful way” after the state rescue during a “five to six year” renovation. A stock exchange trader therefore saw Lufthansa investors once again reminded of the harsh reality this Monday, especially since Thiele also cited patriotism rather than financial considerations as the reason for his commitment. Thiele had recently increased its stake to more than 15 percent and left it open until shortly before the Annual General Meeting whether he agreed to the rescue package./ajx/ag/jha/

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