Europe’s biggest airline risks tipping into insolvency if its biggest investor scuttles the deal
Deutsche Lufthansa CEO Carsten Spohr says the German government’s €9bn bailout plan for the airline is at risk because it will now face a higher threshold for its final passage.
The low attendance means Heinz Hermann Thiele, a German billionaire and Lufthansa’s biggest shareholder with a 15% stake, can scuttle the deal. Thiele last week said he didn’t like the plan — reached after weeks of intensive negotiations with the government — sparking speculation that he’d use his votes to shoot it down with the aim of reopening talks.
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