Lufthansa shares rise 7.5% following the bailout
25 May 2020 - 20:35German airline Lufthansa's aeroplanes park at Frankfurt am Main airport in Germany. Picture: AFP PHOTO/ BORIS ROESSLER
Lufthansa has been locked in talks with Berlin for weeks over aid it needs to survive an expected protracted travel slump, with the airline wrangling over how much control to yield in return for financial support. Germany's finance and economy ministries said on Monday that Lufthansa, whose shares closed up 7.5% at €8.64, had been operationally healthy and profitable with good prospects, but had run into trouble because of the pandemic.
“When the company is fit again, the state will sell its stake and hopefully ... with a small profit that puts us into a position to finance the many, many requirements which we have to meet now, not only at this company,” Scholz said. " will prevent Lufthansa from being sold out,” economy minister Peter Altmaier said, adding that it would help to save thousands of jobs but did not include any extra environmental conditions on top of planned measures.The state's rescue fund plans to refrain from exercising voting rights at regular shareholder meetings under the bailout deal, which still requires approval by shareholders as well as the European Commission, Lufthansa said.
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