(Recasts, adds Air France-KLM placement)
FRANKFURT, April 13 An investor has sold shares
in Lufthansa and Air France-KLM, a source
familiar with the transaction said on Thursday, taking advantage
of recent gains in the airlines' share prices.
Infinite Miles placed a 2.5 percent Lufthansa stake at 15.25
euros ($16.26) apiece, while it sold a roughly 3.5 percent stake
Air France-KLM stake at 7.30 euros apiece, the person said.
The source described Infinite Miles as a financial investor
rather than as a strategic or institutional shareholder. Other
media reports said Infinite Miles had invested in the two
carriers only in the fourth quarter of 2016.
The placement hit shares in the two carriers on Thursday,
with Lufthansa down 3.75 percent at 15.09 euros and Air
France-KLM down 5 percent to 7.12 euros by 0850 GMT.
There was no immediate comment from Lufthansa and Air
Shares in the two carriers have performed strongly this
year, with Lufthansa up almost 28 percent and Air France-KLM
gaining 45 percent, far outperforming other major European
airlines thanks to progress on cost cuts and more positive
comments on ticket prices.
After years of falling ticket prices putting yields under
pressure, both Lufthansa and Air France-KLM made more upbeat
comments on pricing this week, boosting their shares further.
UBS acted as bookrunner in both transactions.
($1 = 0.9376 euros)
(Reporting by Arno Schuetze; Writing by Victoria Bryan; Editing
by Ludwig Burger/Keith Weir)