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In this file photo taken on March 23, 2020 aircrafts of German airline group Lufthansa are immobilised next to the runway that has been closed at the airport in Frankfurt, Germany. — AFP pic

Lufthansa secures €9b German state rescue deal, say airline, government

FRANKFURT AM MAIN, May 25 — Berlin and coronavirus-stricken airline giant Lufthansa agreed today on a nine-billion-euro (US$9.8 billion) rescue package subject to approval by shareholders and competition authorities, the company and Germany’s economy ministry said.

“Before the coronavirus pandemic, the company was operatively healthy and profitable and had good prospects for the future,” the economy ministry said in a statement announcing the mixture of state investments and loans, while Lufthansa said the state would withdraw as a shareholder by the end of 2023. — AFP

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