Lufthansa shareholders approve German gov't bailout

Xinhua
Shareholders of German flag carrier Deutsche Lufthansa gave the green light to the federal government's 9-billion-euro (US$10-billion ) stabilization package.
Xinhua

Shareholders of German flag carrier Deutsche Lufthansa gave the green light to the federal government's 9-billion-euro (US$10-billion ) stabilization package, the company said on Thursday.

As many as 98 percent of shareholders voted to approve the measures at a general meeting on Thursday, the company said in a tweet.

Earlier on Thursday, the European Commission's competition officials also approved the rescue package.

The package of loans and various measures was offered via Germany's Economic Stabilization Fund in late May to help the airline weather the coronavirus crisis.

Before the general meeting of shareholders was held, the package had already been okayed by both the Management Board and the Supervisory Board of the company.

In Lufthansa's tweet, CEO Carsten Spohr said that Thursday's decision "ensures outlook for the future."

The tweet also said that the flight schedules of the group's airlines will be further expanded. 

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