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5/25/2020, 4:54 PM (Source: TeleTrader)
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Germany approves Lufthansa bailout package

Germany's economic stabilization fund (WSF) has approved the package of help for German air carrier Deutsche Lufthansa AG of up to €9 billion. It also includes the silent participation of up to €5.7 billion while WSF will pay €300 million for a 20% stake in the company.

Due to coronavirus pandemic, Lufthansa had to ground approximately 90% of its planes.

Chancellor Angela Merkel reportedly told senior members of her party earlier today, that the government is in for a "tough fight" to preserve the airline's Frankfurt and Munich take-off and landing slots.

Baha Breaking News (BBN) / TF