Exclusive: Lufthansa draws up 'Plan B' to prevent insolvency - source
FILE PHOTO: A Lufthansa jet is seen behind a barbed-wire fence at the airport as the spread of coronavirus disease continues in Frankfurt, Germany, June 2, 2020. REUTERS/Kai Pfaffenbach/File Photo
Germany’s flagship airline has been hit hard by the COVID-19 pandemic and what promises to be a protracted travel slump, and has sought a state rescue to avoid insolvency. Lufthansa expects holders of less than 50% of the stock to vote, in which case a two thirds majority would be needed for the bailout to pass. CEO Carsten Spohr said on Sunday shareholders representing only 38% of shares had registered for the EGM.
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