Lufthansa Saved From Collapse By Disputed Government Aid | Aviation International News

Lufthansa Saved From Collapse By Disputed Government Aid

The German airline's leading private shareholder had opposed state aid, which was contingent on the government taking a 20 percent stake in the company.

Late on June 25, Lufthansa got approval for a German government aid package that looks set to save the airline from bankruptcy. [Photo: Lufthansa]

By Cathy Buyck • Contributor - Europe

June 25, 2020

Lufthansa is set to avoid bankruptcy by drawing on €9 billion ($10.1 billion) in aid from the German government—€6 billion in fresh capital and a €3 billion state-guaranteed loan—after the group secured formal approval from European Union antitrust regulators and shareholders for the bailout. At an extraordinary general meeting that concluded late on Thursday, 98 percent of voting shareholders approved the move.

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