Lufthansa falls after airline declines state relief

Wednesday, 27. May 2020 16:43

Shares of German airline Deutsche Lufthansa AG dropped over 2% during trading on Wednesday after it was revealed the company's supervisory board was "unable to approve" the €9 billion state rescue package.

"Conditions currently indicated by the EU Commission would lead to a weakening of the hub function at Lufthansa's home airports in Frankfurt and Munich," the company explained the decision earlier. However, the supervisory board still considers the bailout package "as the only viable alternative for maintaining solvency."

Lufthansa lost 2.49% to €9 per share at 4:38 pm CET.

Related Links: Deutsche Lufthansa AG
Breaking the News / JC