For the first time in over 30 years, Lufthansa will no longer be listed in the top division of Germany's stock exchange. Although the COVID-19 crisis hit hard, the airline already faced problems before the pandemic.
Lufthansa will lose its spot on Frankfurt's benchmark stock index DAX after the coronavirus pandemic caused the airline's share price to plummet, the stock market announced late Thursday.
The German airline giant will be demoted to the MDax index on June 22, Deutsche Boerse said in a statement.
Lufthansa has held a spot in the index of Germany's 30 biggest listed companies since the index was set up in 1988.
Its spot will be taken by real estate company Deutsches Wohnen, which owns around 160,000 apartments and its Germany's second-largest property company.