Germany approves Lufthansa bailout package

Monday, 25. May 2020 16:54

Germany's economic stabilization fund (WSF) has approved the package of help for German air carrier Deutsche Lufthansa AG of up to €9 billion. It also includes the silent participation of up to €5.7 billion while WSF will pay €300 million for a 20% stake in the company.

Due to coronavirus pandemic, Lufthansa had to ground approximately 90% of its planes.

Chancellor Angela Merkel reportedly told senior members of her party earlier today, that the government is in for a "tough fight" to preserve the airline's Frankfurt and Munich take-off and landing slots.

Related Links: Deutsche Lufthansa AG
Breaking the News / TF