Regional News • Europe • Germany
2020-05-01T15:58:18+00:00

German Goverment to take a 25.1% stake in Lufthansa

Der Spiegel reports Lufthansa is seeking a €10 billion bailout that would give the German government a massive stake (25.1%) in the airline.

According to the news magazine, the government will hold over half of the stake — €5.5 billion — as a silent partner, for which they will receive a guaranteed return of 9%, and the state-owned development bank Kreditanstalt for Wiederaufbau (KFW) will also contribute another €3.5 billion.

The German flag carrier has said it is losing €1 million an hour due to the Covid-19 pandemic, as it is currently flying around 1% of its normal flight schedule.

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