Germany’s Lufthansa still in talks with the government over $9.81 billion bailout offer
Germany’s Economy Minister Peter Altmaier announced on Monday that the government is still negotiating with the European Commission over its rescue deal for German airline Lufthansa (LHAG.DE). He added that Berlin expects Brussels to approve the bailout. The €9 billion ($9.81 billion) bailout deal was one of the biggest aid packages by a single country hatched so far in the pandemic-hit global travel sector.
“We liaised with Brussels on all big rescue packages with which we avoided millions of unemployed and prevented a lot of companies from bankruptcy. They were all approved at the end. So, this gives me hope that we’ll also find a solution in this case,” the economy minister stated in an interview with ARD media.
The bailout deal is the result of discussions between Lufthansa and the German government about financial aid that will help save up to 10,000 jobs.
The German government has set aside a fund of €100 billion to help shore up companies struck down by the coronavirus outbreak.