Lufthansa might seek some form of protection from creditors while talking to the Berlin government about a 9 billion euro ($9.76 billion) rescue package, a company source said on Tuesday after government and airline sources said talks on a deal were continuing.
FILE PHOTO: Two Lufthansa airbus A380-800 are parked as air traffic is affected by the spread of the coronavirus disease , in Frankfurt, Germany, March 23, 2020. Arne Dedert/Pool via REUTERS/File Photo
Lufthansa and the economy ministry had earlier declined to comment after news outlet Business Insider had cited company sources as saying that Berlin would help the airline in return for a blocking minority and one or two supervisory board mandates.Sources close to the talks said there would potentially be a conversation on Tuesday between Chancellor Angela Merkel and Lufthansa Chief Executive Carsten Spohr, but they added this was not with view to concluding a deal.
If Berlin had too much say, then governments of Austria, Switzerland, Belgium and federal German states could want to follow suit. Lufthansa has subsidiaries in Austria, Switzerland and Belgium and its two German hubs Frankfurt and Munich are located in the state of Hesse and Bavaria.
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