Frankfurt (dpa) – Lufthansa has lost its spot on Germany’s benchmark stock index DAX as the coronavirus crisis sent the airline’s value plunging, the exchange said late Thursday.
Deutsche Lufthansa AG will be demoted to the MDax index on June 22 after 32 years, Deutsche Boerse said.
Lufthansa, Germany’s largest airline, has been hard hit by lockdowns and the almost total halt of air travel during the coronavirus pandemic.
Lufthansa and the German government agreed earlier this week on a 9-billion-euro (10.2-billion-dollar) bailout package.
Its spot in the index of Germany’s 30 biggest listed companies will be taken by real estate company Deutsches Wohnen.
Deutsche Wohnen is Germany’s second largest property company, owning about 160,000 apartments.
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