Lufthansa and German government agree $9.8 billion rescue package
The German government and Lufthansa , which has been hit hard by the coronavirus pandemic, have reached a preliminary deal on a 9 billion euro ($9.8 billion) bailout.
The German government and Lufthansa , which has been hit hard by the coronavirus pandemic, have reached a preliminary deal on a 9 billion euro ($9.8 billion) bailout.
Germany's new Economic Stabilization Fund (WSF) has approved a 9 billion euro ($9.80 billion) stabilization package for Lufthansa , Germany's flagship carrier said on Monday.
Germany's rescue package for flagship carrier Lufthansa is a "very, very good solution" that is taking into account the needs of both the company and taxpayers, Finance Minister Olaf Scholz said on Monday.
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The German Finance and Economy Ministries on Monday said Lufthansa was an operationally healthy company before the coronavirus outbreak, as well as profitable and with good future prospects, but had got into trouble due to the pandemic.
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Germany threw Lufthansa a 9 billion euro ($9.8 billion) lifeline on Monday, agreeing a bailout which gives Berlin a veto in the event of a hostile bid for the airline.
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