x

Coronavirus

Lufthansa: German Government Fund Approves 9 Billion Euros in Aid

FRANKFURT, Germany  — German airline Lufthansa said Monday it has received approval for a 9 billion-euro ($9.8 billion) "stabilization package" from a government support fund to keep the company going through the turbulence from the coronavirus outbreak, but cautions the deal has not been approved by the European Union's executive commission. 

Lufthansa, which has lost most of its passenger business due to travel restrictions, said the government's fund has agreed to take non-voting holdings in return for 5.7 billion euros, plus a 3 billion-euro credit line and 300 million euros in share purchases. 

That would leave the government fund with a 20-percent stake in the company and two seats on the board of directors.

The company's trading statement said that the deal has not been approved by the European Commission, which could set conditions intended to preserve fair competition. 

RELATED

ATHENS – While the New Democracy government is easing health restrictions for rabid anti-vaxxers, those fully vaccinated against COVID-19 may need a fourth shot in the autumn.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.