Lufthansa board rejects €9bn bailout on threat of losing German flight slots

rejected_Adobe_230x150
By Mike Turner
28 May 2020

The board of Lufthansa, the German flag carrier, has rejected the terms of a €9bn state bailout that would have seen the European Commission require the company to relinquish flight slots in Frankfurt and Munich.

The German state, acting through its crisis-era Economic Stabilisation Fund (WSF), approved the package on Monday for a €3bn KfW loan and around €6bn in silent participation investments in the company.

However, the chief executive officer of rival European airline Ryanair, Michael O’Leary, has been vocal that such support ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial