Germany’s struggling carrier Lufthansa agrees to $10 billion state rescue package ...United Arab Emirates

After weeks of “intensive negotiations” between Berlin and Germany’s flagship carrier Lufthansa, an agreement has been reached on €9 billion state bailout aid. As part of the deal, the government will take a 20 percent stake in Lufthansa, as well as a convertible bond worth five percent plus one share. That would allow Berlin to claim a blocking minority shareholding to protect the airline against a takeover. The package will also comprise a €3 billion ($3.27 billion) state loan to the airline, as well as two government-appointed seats on the supervisory board. The conditions are also likely to include “the waiver of future dividend p

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Last updated : 25 May 2020 clock 04:15 PM

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Germany’s struggling carrier Lufthansa agrees to $10 billion state rescue package ...United Arab Emirates

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