The German Government and Lufthansa have agreed on a much-anticipated bailout deal to help the airline cope with losses from theThe deal, which provides for aid and equity measures worth nine billion euros , is yet to be approved by Lufthansa’s supervisory board and the European Commission’s competition watchdog.
The status of some 138,000 employed by the airline and its many subsidiaries, which include Austrian, Brussels, Eurowings, Swiss and others, along with Lufthansa Cargo, was a major factor in talks. The stabilisation fund will also make a silent capital contribution of up to 5.7 billion euros in Lufthansa’s assets.A loan of up to three billion euros is also planned with the participation of the state-owned KfW bank and private banks with a term of three years.
According to reports by the business daily Handelsblatt, Ms Merkel intends to oppose any attempt by the European Commission to deprive Lufthansa of take-off and landing slots in return for the large state rescue package being negotiated. European Commission watchdog authorities did not want to comment on whether their approval of the deal would be subject to special conditions.
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