Lufthansa foreign investment tops 40%

4th Aug 2006

Since 3 August 2006, the share of foreign investors in Lufthansa«s share capital has
reached 40.29 per cent. In order to retain the air traffic operating licence under European law and air
traffic rights to fly to destinations outside Europe, the proportion of foreign
shareholders may not exceed 50 per cent of the company’s share capital. When the
proportion of foreign shareholders reaches 40 per cent, the company is therefore
authorised by the German Aviation Compliance Documentation Act to buy back its own
shares to prevent imminent excessive foreign control.

After a careful analysis of share trading, Lufthansa however does not currently see
a threat of excessive foreign control. The company continues to place its confidence
in the self-regulation of the capital market. Therefore Lufthansa will currently not
make use of the share buy-back option.


The German Aviation Compliance Documentation Act requires Lufthansa to report on the
nationality of its shareholders every quarter. When certain thresholds for the
number of shares held by foreign shareholders are reached, e.g. 40 per cent, the act
also provides for an obligatory disclosure.

Lufthansa has also been nominated this year for a



World Travel Award as World’s Leading Airline.



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