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Lufthansa wants to repay Corona billions in aid before the federal election

2021-06-22T06:56:15.154Z

In the corona crisis, the state saved Lufthansa with billions in aid. In an interview with Chancellor Merkel, CEO Spohr announces that he will repay the money - "hopefully before the general election".



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The federal government saved Lufthansa in the corona crisis with billions in aid

Photo: Soeren Stache / dpa

Lufthansa wants to repay billions in government aid from the corona crisis in a few months.

"We were one of the first companies that was saved by the federal government," said CEO Carsten Spohr at the National Aviation Conference in Schönefeld in an interview with Chancellor Angela Merkel.

»We also want to be one of the first companies to repay the rescue funds - hopefully before the general election.

It's our turn. "

The Lufthansa share price only fell slightly for a short time.

Around noon it was again as high as before Spohr's statements, with an increase of 1.13 percent to 10.54 euros.

The federal election will take place on September 26th.

Germany, Austria, Belgium and Switzerland had pledged nine billion euros in government aid to the group last year due to the collapse in business caused by the pandemic, thus saving it from ruin.

However, Lufthansa only took part of the sum.

Lufthansa currently owes the German taxpayer around one billion euros.

At the general meeting in early May, Lufthansa shareholders gave the company the green light for a capital increase of up to 5.5 billion euros.

The aim is to repay the state aid received with fresh money from investors.

In the meantime, Lufthansa has commissioned banks to prepare for the capital increase.

CFO Remco Steenbergen had previously said that the group would not use the amount approved by the shareholders.

Lufthansa had slipped deeper and deeper into the red because of the travel bans in the wake of the corona pandemic.

The company temporarily lost around one million euros per hour because more than 90 percent of the aircraft fleet was on the ground.

hba / dpa / Reuters

Source: spiegel

All business articles on 2021-06-22

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