Germany’s Lufthansa Airline Seeks €9 Billion Bailout After Travel Restrictions Disrupt Flights to Costa del Sol and Costa Blanca

Credit: Reuters

Germany’s popular travel airline Lufthansa has stated that it is negotiating a €9 billion bailout “stabilisation package” with Germany’s Federal Economic Stabilisation Fund.

THIS campaign includes a non-voting capital component, also known as a silent participation, a secured loan, an increase in capital which may lead to the German government shareholding up to 25 per cent plus one share.

However, there are alternative options of capital increase that are being discussed, including the increase of nominal value of the hare, if this is still necessary after a capital cut, added Lufthansa.

The airline has been in serious trouble since the travel bans as a result of the coronavirus crisis grounded 700 of its aircrafts subsequently causing a 99 per cent drop in its number of passengers.

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Written by

Laura Kemp

Originally from UK, Laura is based in Axarquia and is a writer for the Euro Weekly News covering news and features. Got a news story you want to share? Then get in touch at [email protected]

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