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22/05/2020
16:27
Lufthansa in talks with German govt for rescue deal worth up to $10 billion

Airline Lufthansa said on Thursday it is in advanced talks with the German government's economic stabilization fund over a rescue deal worth up to 9 billion euros ($9.9 billion), including the state taking a 20% stake in the company, according to the Business Today information.

Lufthansa said in a statement that the deal would involve the government taking two seats on its supervisory board, but it would only exercise its voting rights as a whole in exceptional cases such as protection against a takeover.

The Lufthansa Group is an aviation group with operations worldwide. With 138,353 employees, the Lufthansa Group generated revenue of EUR 36,424m in the financial year 2019.?The Lufthansa Group is composed of the segments Network Airlines, Eurowings and Aviation Services. Aviation Services comprises the segments Logistics, MRO, Catering and Additional Businesses and Group Functions. The latter also include Lufthansa AirPlus, Lufthansa Aviation Training and the IT companies. All segments occupy a leading position in their respective markets.

Lufthansa Group revenue in 2019 rose by 2.5 per cent to 36.4 billion euros. The adjusted EBIT margin was 5.6 per cent. Consolidated net profit fell by 44 per cent to 1.2 billion euros. Unit revenues of the passenger airlines in the Group fell by 2.5 per cent in 2019, adjusted for exchange rate effects, in particular due to the overcapacity in the Lufthansa Group's home markets. At the same time, unit costs adjusted for fuel and currency effects were reduced by 1.5 per cent in 2019, the fourth year in succession.

"AK&M", 21.05.2020 12:38

 

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