Lufthansa Says it Has No Plans to Sell Thomas Cook Stake

Deutsche Lufthansa AG said it has no plans to sell its 50 percent stake in the Thomas Cook joint venture it operates together with KarstadtQuelle AG.

Earlier, Manager magazine issued a prerelease of an article which stated Lufthansa has plans to sell its 50 percent stake in the Thomas Cook joint venture to KarstadtQuelle. KarstadtQuelle has said in the past it wants to increase its own 50 percent stake.

According to the report, Lufthansa and KarstadtQuelle´s chief financial officers have met to discuss a reorganization of Thomas Cook under which KarstadtQuelle will take over all of the joint venture, while Lufthansa will carve out its Condor airline.

Manager magazine also said that Lufthansa´s management has not yet made a decision on whether to sell its Thomas Cook stake. A KarstadtQuelle spokesman declined to comment on the report, referring to it as “speculation.”