Lufthansa board accepts EU requirements

There is agreement between the EU Commission and the Federal Government on the key points of the Lufthansa rescue. The airline is to waive a total of 24 take-off and landing rights in Frankfurt and Munich, as well as eight aircraft. The Lufthansa board has meanwhile approved the conditions. The rescue package comprises aid worth billions.

The EU Commission initially asked Lufthansa to hand over 20 aircraft to allow more competition. According to Commission Vice-President Margrethe Vestager, there are no additional obstacles to the airline. Instead, the aim is to prevent distortions of competition.

The Federal Government is to receive 2 out of 20 supervisory board posts as part of the rescue measures, but will not name the persons for the posts. The Chairman of the Lufthansa Supervisory Board will fulfill that part.
The bailout package comprises 5.7 billion Euros of silent deposits, a secure loan of up to 3 billion Euros, and a federal contribution of 20 percent, which is the equivalent of 300 billion Euros.

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