Lufthansa repays German financial aid loan

Friday, 12. November 2021 12:25

Deutsche Lufthansa AG announced on Friday that it has fully repaid the financial aid it received from Germany's Economic Stabilization Fund.

The airline noted that this was the second phase of the repayment amounting to €1 billion, while the first phase was repaid in October in the amount of €1.5 billion. Furthermore, Lufthansa said that it cancelled the remaining funds it requested from the government but didn't use, adding that the reason for the swift repayment was rising demand for air travel as the effects of the pandemic lessen.

Lufthansa CO Carsten Spohr commented on the news: "Many challenges remain. Our ambition is to strengthen our position among the world's leading airline groups. To this end, we will consistently continue the restructuring and transformation of the company."

Related Links: Deutsche Lufthansa AG
Author:
Baha Breaking News (BBN) / OL