Lufthansa aims to finalise €10 billion rescue package next week
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Lufthansa was forced to ground almost all of its planes.
PHOTO: AFP
FRANKFURT (REUTERS) - Lufthansa is aiming to finalise a state aid rescue package worth up to €10 billion (S$15.4 billion) next week after the coronavirus crisis forced it to ground almost all of its planes, people close to the matter said.
The package will consist of equity from Germany's new economic stabilisation fund (ESF), of state-guaranteed loans from Germany and of debt supplied by Austria, Switzerland and Belgium, where Lufthansa subsidiaries are based, they added.
Lufthansa said that it is in intensive negotiations with the governments regarding various financing instruments to secure the Group's solvency in the near future, as reported a first-quarter loss of €1.2 billion late on Thursday (April 23).
The company declined to comment further. The German government declined to comment.
