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Federal government rejects bonuses in the millions for the Lufthansa board

2022-12-21T14:29:34.147Z


Lufthansa finds high bonuses for its board members legitimate - despite recently received state aid. The federal government sees it "expressly differently" and now wants to clarify "interesting legal questions".


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Tail fins of Lufthansa machines in Munich

Photo: Christof Strache / AFP

The federal government rejects plans by Lufthansa to pay out millions in bonuses.

"The federal government sees things differently," said government spokesman Steffen Hebestreit.

"In their understanding, the accumulation of bonus payments in connection with a later payment after the end of the stabilization measures that existed in the WSF would violate the agreements made." This would be discussed with Lufthansa.

"Interesting legal questions have to be clarified."

The collapse of air traffic in the pandemic had plunged Lufthansa deep into the red in 2020 and 2021.

In the summer of 2020, the state saved society from economic collapse.

The Federal Economic Stabilization Fund (WSF) supported Lufthansa with six billion euros.

In the course of this, he joined the group directly with 20 percent.

The state development bank KfW also contributed a loan of EUR 1 billion.

Lufthansa has since repaid the aid in full.

The federal government sold its stake with a profit of more than 700 million euros.

According to the "Handelsblatt", the supervisory board decided at the beginning of December to grant top management bonus payments for 2021 and 2022.

A Lufthansa spokesman explained that internal discussions in the supervisory board are not commented on.

“The remuneration for the board of directors, which is currently under public discussion, will be paid out at the earliest from 2025, depending on various factors.” It is about a long-term bonus.

The Supervisory Board observes applicable law in all decisions regarding management remuneration.

hej/dpa-AFX

Source: spiegel

All business articles on 2022-12-21

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