Airline Lufthansa said on Thursday it is in advanced talks with the German government's economic stabilisation fund over a rescue deal worth up to 9 billion euros ($9.9 billion), including the state taking a 20% stake in the company.
FILE PHOTO: Aircraft of the German carrier Lufthansa are parked on the tarmac, as the spread of the coronavirus disease continues, at the airport in Frankfurt, Germany March 24, 2020. REUTERS/Ralph Orlowski/File Photo
Lufthansa said in a statement that the deal would involve the government taking two seats on its supervisory board, but it would only exercise its voting rights as a whole in exceptional cases such as protection against a takeover. Lufthansa said it expected conditions of the deal to include the waiver of future dividend payments and limits on management compensation, adding the package would have to be approved by the European Commission.
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