German Government Offers Lufthansa $10 Billion Bailout
(From American Shipper)
After fully privatizing Deutsche Lufthansa AG (FWB: LHA) a quarter-century ago, the German government will become a minority owner in an effort to rescue the country’s largest airline from economic devastation wrought by coronavirus travel restrictions.The airline group, which includes Lufthansa Airlines, SWISS International Air Lines and Austrian Airlines, agreed Monday to a 9 billion euro ($9.8 billion) bailout package in which the federal government will receive a 20% stake in the company in return for two board seats and veto power over any hostile takeover bid.
Reprinted from: https://www.ac2news.com/2020/05/german-government-offers-lufthansa-10-billion-bailout/
