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LUXEMBOURG – Following the announcement by Luc Frieden of the intention to sell BIL shares in Luxair, the financial institution provided details on Monday.
Luc Frieden, chairman of the board of directors of BIL, had announced that he wanted to sell the bank’s shares in Luxair.
A shareholder of Luxair since 1948, Banque Internationale à Luxembourg (BIL) discussed the sale of its stake (13.14%), through its chairman of the board of directors Luc Frieden, on the radio 100.7. A decision, which according to the former minister, goes back two years. On this subject, the institution provided details on Monday, by means of a press release.
“The bank regularly evaluates its investments and holdings, and air transport is not part of its strategic activities. This is why such a sale might only take place if a reliable and solid partner was found, in agreement and in alignment with the other shareholders.
BIL also reiterated that the development of the national economy was at the heart of its activity. After having suffered a loss of 155 million euros in 2020, the national airline is still facing difficulties. In January, between 200 and 300 of its employees were still affected by partial unemployment.
(The essential)
