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|    AVIATION    |    Aviation echo, airline-related news    |    717 messages    |
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|    Message 229 of 717    |
|    Aviation HQ to All    |
|    Lufthansa in trouble    |
|    28 Apr 20 14:08:04    |
      MSGID: 2:292/854 110a2c21       The German government will help Lufthansa with nine billion euros in state       aid. In return, the government will receive a blocking minority interest and a       seat on the supervisory board. Business Insider reports this on Tuesday.       Reuters reported moments later that there is no final agreement yet.               Lufthansa and representatives of the German government are said to have       reached an agreement on Monday for the emergency aid package. According to       Business Insider, CEO Carsten Spohr wanted to seal the deal on Tuesday with       Chancellor Angela Merkel and Finance Minister Olaf Scholz, but according to       Reuters, that is uncertain because no final agreement has yet been reached.               Due to the corona crisis and global travel restrictions, Lufthansa has the       majority of the fleet aground. The company is currently losing approximately       one million euros per hour. Without state aid, the company would go bankrupt       within a few weeks.               Last week, Lufthansa Group already announced its urgent need for state aid       when presenting the quarterly figures. The Lufthansa Group lost 1.2 billion       euros in the first quarter on sales that decreased by 18 percent to 6.4       billion euros. In March, sales even fell by 47 percent.              --- D'Bridge 4        * Origin: AVIATION ECHO HQ (2:292/854)       SEEN-BY: 1/123 90/1 120/340 601 153/757 221/1 226/30 229/101 426 1014       SEEN-BY: 240/5832 249/317 400 261/38 280/464 292/854 8125 317/3 322/757       SEEN-BY: 335/364 342/200 396/45 633/280 801/188       PATH: 292/854 229/426           |
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