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German government approves 9.8 billion bailout to Lufthansa - Business Insider

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German government approves $9.8 billion bailout to Lufthansa that would leave it with a 20% stake in the airline

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Germany on Monday approved a 9 billion-euro aid package for airline Lufthansa as it struggled under coronavirus travel restrictions.

The government's stake is below the level needed to block major decisions, but it has the option to raise it to a blocking stake of 25% plus one share in case of an attempted takeover of the company.FRANKFURT, Germany — Germany on Monday approved a 9 billion-euro aid package for stricken airline Lufthansa to keep a major employer going through the turbulence of the coronavirus pandemic.

Altmaier said the government was in talks with the European Commission over its approval for the deal but declined to say what was at issue.

 

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