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Despite state aid, layoffs and short-time work: Lufthansa wants to pay bonuses to board members

2022-12-20T15:59:17.236Z

Despite state aid, layoffs and short-time work: Lufthansa wants to pay bonuses to board members Created: 12/20/2022, 4:49 p.m By: Patricia Huber With the corona pandemic, Lufthansa got into financial difficulties. Nevertheless, the board members are now to be rewarded with bonuses. Frankfurt/Main – According to a media report, Lufthansa wants to pay bonuses to its board members despite governm



Despite state aid, layoffs and short-time work: Lufthansa wants to pay bonuses to board members

Created: 12/20/2022, 4:49 p.m

By: Patricia Huber

With the corona pandemic, Lufthansa got into financial difficulties.

Nevertheless, the board members are now to be rewarded with bonuses.

Frankfurt/Main – According to a media report, Lufthansa wants to pay bonuses to its board members despite government aid worth billions in the corona pandemic.

At a meeting in early December, the supervisory board decided to grant top management bonus payments for 2021 and 2022, the

Handelsblatt

reported on Tuesday, citing group circles.

After layoffs and short-time work: Lufthansa would like to pay bonuses to board members

There was a dispute in the supervisory board over this decision: some employee representatives voted against the remuneration system because they considered the payments to be in violation of the ban on bonuses during the state bailout.

According to the report, there was also criticism of the plans, since Lufthansa cut thousands of jobs during the crisis and prescribed short-time work on a large scale.

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.

Lufthansa: The state saved the group

Still, the news isn't really going down well with the general public.

The economist Achim Truger also criticizes the Lufthansa decision on Twitter.

There he writes: “Tricks to be able to pay out bonuses for the Executive Board despite state aid from Corona: That will neither improve Lufthansa’s image nor that of the economy as a whole!

Fatal if this discredits the necessary state aid for the future!”

However, other users argue that Lufthansa has already repaid the aid and can therefore now pay out bonuses retrospectively without any problems.

This is where the opinions of social media users differ.

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 the airline from economic collapse.

The Federal Economic Stabilization Fund supported Lufthansa with six billion euros, and in the course of this he went directly to the group with 20 percent.

The state development bank KfW also contributed a loan of over one billion euros.

In the meantime, Lufthansa has repaid the aid in full, and the federal government has sold its stake with a profit of more than 700 million euros.

(ph/dpa)

Source: merkur

All news articles on 2022-12-20

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