Lufthansa board rejects EU conditions on $10 bln bailout

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FRANKFURT (Reuters) – German airline Lufthansa’s (LHAG.DE) supervisory board on Wednesday rejected conditions imposed by Brussels on a proposed government bailout, casting fresh doubt on the 9 billion euro ($9.9 billion) rescue.

FILE PHOTO: Airplanes of German carrier Lufthansa at the Berlin Schoenefeld airport, Germany, May 26, 2020. REUTERS/Fabrizio Bensch/File Photo

The board, which had been expected to sign off on the aid, instead refused EU requirements that Lufthansa permanently give up take-off and landing slots at Frankfurt and Munich airports, where it commands a two-thirds market share.

The bailout plan nevertheless remains “the only viable alternative” to

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Lufthansa board rejects EU conditions on $10 billion bailout

spike

FRANKFURT (Reuters) – German airline Lufthansa’s (LHAG.DE) supervisory board on Wednesday rejected conditions imposed by Brussels on a proposed government bailout, casting fresh doubt on the 9 billion euro ($9.9 billion) rescue.

FILE PHOTO: Airplanes of German carrier Lufthansa at the Berlin Schoenefeld airport, Germany, May 26, 2020. REUTERS/Fabrizio Bensch/File Photo

The board, which had been expected to sign off on the aid, instead refused EU demands that Lufthansa permanently give up take-off and landing slots at Frankfurt and Munich airports, where it commands a two-thirds market share.

The bailout plan nevertheless remains “the only viable alternative” to

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Lufthansa supervisory board postpones approval of bailout package

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FILE PHOTO: Airplanes of German carrier Lufthansa at the Berlin Schoenefeld airport, Germany, May 26, 2020. REUTERS/Fabrizio Bensch/File Photo

FRANKFURT (Reuters) – Lufthansa’s (LHAG.DE) supervisory board postponed approval of a 9 billion euro ($9.90 billion) bailout in light of conditions imposed by the European Union, the German airline group said on Wednesday.

Lufthansa’s supervisory board had been expected to meet Wednesday to sign off on the rescue deal, but the European Commission has asked Lufthansa to waive landing rights for six out of 300 slots at Frankfurt and Munich airports, where Lufthansa has a two-thirds market share.

Lufthansa

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Lufthansa hopes for speedy EU nod for bailout: sources

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FRANKFURT (Reuters) – Lufthansa (LHAG.DE) is hoping for a quick nod from the European Commission for its 9 billion euro ($9.8 billion) bailout agreed on Monday to make sure the cash arrives in time for the company to stay afloat.

Airplanes of German carrier Lufthansa are parked at the Berlin Schoenefeld airport, amid the spread of the coronavirus disease (COVID-19) in Schoenefeld, Germany, May 26, 2020. REUTERS/Fabrizio Bensch

“This should be a matter of days”, one of the people said.

Lufthansa’s supervisory board is expected to meet Wednesday to sign off on the rescue deal and the invitation

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