Lufthansa (LH, Frankfurt International) has announced that the Lufthansa Pension Trust has successfully sold off approximately 13.5 million shares, or a 3% stake, in airline IT provider Amadeus IT Holding, S.A.

"With the sale of the shares, which represents three per cent of the shares in Amadeus IT Holding, S.A., the pension fund raised gross proceeds of EUR388million (USD489.51million). Accordingly, the Lufthansa Pension Trust’s stake in Amadeus will be reduced from four per cent to approximately one per cent," Lufthansa Group said in a statement Wednesday.

With the transaction complete, Lufthansa will still hold 4'431'061 shares or a 0.99% stake in Amadeus through Malta Pension Investments. Air France Finance will continue to be the single biggest stakeholder with a 4% stake in the airline IT firm.