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German investor Kuehne boosts stake in Lufthansa to 15%

FRANKFURT (Reuters) -German logistics entrepreneur Klaus-Michael Kuehne has increased his stake in Lufthansa to 15% from 10%, making him the biggest shareholder in the German flag carrier and pushing shares in the airline higher on Thursday. Logistics companies, which have benefited from surging profits from ocean shipping due to the COVID-19 pandemic, have increasingly invested in other forms of transport, such as air freight, to add resilience to global supply chains and protect against a downturn. Kuehne, an 85-year-old German billionaire, is the controlling shareholder of Swiss logistics firm Kuehne & Nagel and has a 30% stake in container shipping company Hapag-Lloyd AG.

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