Major shareholder Kühne criticises Swiss and Lufthansa

With 18.8 per cent of the shares, Klaus-Michael Kühne is by far the most influential shareholder in the Lufthansa Group – far ahead of the second-largest shareholder, who only has around three per cent. Until now, the billionaire logistics entrepreneur has been rather reserved, but now the calm is at an end.

The crash of the share price has infuriated him, and Kühne is speaking plainly: «So far we are not exerting any pressure, but we will shortly be speaking to the chairmen of the supervisory and management boards», he said in an interview with the «Frankfurter Allgemeine Zeitung (subscription required)».

Kühne schimpft gegen Sparmassnahmen

His criticism is comprehensive: too many by-products, too many brands, too little focus – and a falling share price as a result of a «vulnerable» strategy. But Swiss, once the flagship airline of the Lufthansa Group, is particularly in the crossfire. «Comfort and standards have fallen», says Kühne, as he has done before (Travelnews reported).

What particularly annoys him is the massive use of wet-lease partners such as Air Baltic and Helvetic Airways. «These partners have a completely different product or very narrow aircraft», says Kühne. For the 87-year-old, who lives in Switzerland himself, this is unacceptable.

Kühne is convinced that Lufthansa has neglected its core brand – and with it its leading position in international competition: «With airlines like Emirates and the Far East airlines, it is no longer at the forefront. I am very surprised that it has been allowed to get this far, despite all the German thoroughness and perfection.»

With almost 20 per cent of the shares, the logistics tycoon already has considerable influence. «This means we are on the verge of a majority at the Annual General Meeting, because only around 40 per cent of shareholders attend», says Kühne. Despite his criticism, the entrepreneur emphasises that he does not want to seek conflict: «We don't want a fight», he says. But Kühne adds a postscript: «But if push comes to shove, we might think about using that lever.»