GERMAN GOVERNMENT AGREES €9B LUFTHANSA BAILOUT


26/06/2020




Serhat TUNAR -TDO- Shareholders of Germany-based airline Lufthansa, which is facing bankruptcy due to a Coronavirus outbreak that has affected almost all business sectors and affected the world, have approved a rescue package worth 9 billion euros.

In order for the bailout package to be adopted at the General Assembly, two-thirds of the participants had to vote in favour, and at an Extraordinary General Meeting held by Lufthansa shareholders in a virtual environment, nearly all of the shareholders supported the resolution.

With this decision, the German government will own 20 per cent of Lufthansa shares. But if it is deemed necessary, it could increase that figure to 25 per cent.


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