Lufthansa up 10% as EU approves €9B bailout

Thursday, 25. June 2020 09:40

Shares of the largest German airline Deutsche Lufthansa AG rose more than 10% on Thursday after it was announced that the EU Commission's competition officials have approved the federal government's Lufthansa rescue package. However, the release will happen under the condition that Lufthansa complies with obligations to avoid distortions of competition.

Meanwhile, German billionaire Heinz Hermann Thiele, who is a major shareholder in air carrier Lufthansa, said he will support the state-backed bailout of the company. Also, earlier this week Germany's Finance Minister Olaf Scholz said that a consensus on a €9 billion bailout between the government and Lufthansa has been possible.

Lufthansa stocks jumped 10.47% to sell for €9.88 per share at 9:41 am CET.

Related Links: Deutsche Lufthansa AG
Author:
Breaking the News / TF