Foreign investors will soon be able to buy unlimited stakes in a new holding company being proposed by Lufthansa Group, according to a report by the German magazine Der Spiegel.

The new corporate structure, revealed by the carrier on December 11, is aimed at luring more capital from outside Germany, Der Spiegel said in its December 13 article, as currently it must be majority German-owned in order to keep its flying rights in many countries.

According to Lufthansa, the new holding structure will allow it to manage its core brand separately. The plan follows pressure from investors to simplify operations and improve efficiency, Reuters reported. A Lufthansa spokesman told the news agency on December 13 that it aims to spin off its airline operations to a foundation, which the holding company would control.

The holding structure may resemble IAG International Airlines Group, whose airlines British Airways, Iberia, Vueling Airlines, Aer Lingus, and LEVEL are run as separate profit centres.

“We are indeed investigating the transformation of the core Lufthansa brand into independent company form,” the spokesman confirmed, adding that the use of a foundation is customary in the industry. “We are currently investigating extensive legal and tax issues.”

The aim is to sharpen the profile of the core Lufthansa (LH, Frankfurt International) brand and maintain its aviation rights, he said without providing any information about a possible timeline. According to Der Spiegel, the plans should be approved, at the latest, at an annual general meeting in May 2022.

Lufthansa said in a press release on new personnel appointments on December 11 that Patrick Staudacher, currently with Boston Consulting Group, “will join Lufthansa Group on May 1, 2020. He will take over the reoriented position of CFO & Head of Business Development for the Lufthansa core brand. The appointment also takes place with a view towards the planned legal independence of the Lufthansa airline.”