Home / World News / Germany set to take Lufthansa stake in landmark $9.8-billion bailout

Germany set to take Lufthansa stake in landmark $9.8-billion bailout

The aid package involves taking an initial 20 per cent stake that could rise to a blocking minority of 25 per cent plus one share in the event of a hostile takeover, the carrier said on Monday.

Lufthansa planes park at the airport in Duesseldorf, Germany, Thursday, March 19, 2020 | AP/PTI

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Lufthansa planes park at the airport in Duesseldorf, Germany | AP/PTI

1 min read Last Updated : May 26 2020 | 6:51 AM IST

Germany will offer Deutsche Lufthansa AG a 9 billion euros ($9.8 billion) bailout that thrusts the state back into the heart of a company privatised with fanfare two decades ago.

The aid package involves taking an initial 20 per cent stake that could rise to a blocking minority of 25per cent plus one share in the event of a hostile takeover, the carrier said on Monday.

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The plan, which requires European Union approval and will almost certainly be challenged by rival airlines such as Ryanair Holdings,

Topics : Germany Lufthansa Aviation industry Deutsche European Union

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