Swiss-mother – and- Lufthansa-rescue package to final straight nThe talks between the German government and the airline should be according to the Chancellor before the conclusion.11 Kommentare11″In a nutshell”: The decision on a multibillion-dollar rescue package of the German government for the Lufthansa before. (Archive image)Keystone/Patrick PleulDie government has agreed on a common proposal.Keystone/Oliver lang, first, to be secured with a loan from the state-owned KfW-Bank, about 3 billion euros, the liquidity of the Lufthansa.Keystone/Frank rumpenhorst also to participate in the Federal government with up to 25 per cent of Lufthansa.Keystone/Mindaugas KulbisDetails to could not ongoing conversations, they call: German Chancellor Angela Merkel.Keystone/Clemens BilanDem Lufthansa group threatens to assume the money: It loses 800 million euros in cash in the month.Keystone/Michael ProbstVon the allegedly existing Bar-reserves of more than 4 billion euros, 1.8 billion euros is actually the customer.Keystone/Boris Roessler these are waiting for the refunds for flights.Keystone/Boris Roessler1 / 8
A decision on a multibillion-dollar rescue package of the German government for the Lufthansa is imminent. German Chancellor Angela Merkel said on Wednesday that it was expected “soon” in order to.
The government was in intensive discussions with the companies and the EU Commission. Details of the current talks could not call, Merkel said more. Lufthansa is the parent company of the Swiss.
The negotiations on state aid for Lufthansa are not completed according to the German government. “The talks are far advanced but not yet completed,” a government spokesperson said the German press Agency on Wednesday evening.
agreement on a common proposal
According to dpa information has reached agreement with the government on a joint proposal for a rescue package. Accordingly, it would like to participate in the Federal first of all, with less than 25 per cent of Lufthansa.
Thus, the Federal government would not have a blocking minority and he could not block out important strategic decisions. The German government is to send two members of the Supervisory Board in the control panel.
According to information of the “Handelsblatt” and the DPA initially with a loan from the state-owned KfW-Bank, about 3 billion euros, the liquidity of the Lufthansa be secured. Added to this is a direct participation of the state of 20 percent, as well as a convertible bond to the value of 5 percent plus one share.
a Potential blocking minority
On this construction the state should be able, in case of attempt of a hostile Takeover, a blocking minority to build. Familiar with the negotiations circles explained of the DPA, the convertible bond can only be accepted under special conditions, such as the defence of a Takeover, pulled.
The German government and Lufthansa have been negotiating for weeks about government aid. It was, according to dpa-information for a package of up to € 9 billion. The arrangements were in the coalition has long been debated.
Above all, the Union warned of a “Quasi-nationalization” of the Airline. The model of a state participation of 25 percent plus one share, and thus a blocking minority was seen in the Union is very critical.
cash and cash equivalents in the descent
The Lufthansa group, the money is threatening to go out. The company had been hit the entire industry, from the Corona-shock tough and is currently losing around 800 million euros in cash in the month. Of the allegedly existing Bar-reserves of more than 4 billion euros, 1.8 billion euros actually belong to the customers waiting on refunds for non-operated flights.
In Switzerland, had the Parliament on 6. May, approved the loans for the aviation state aid. It wants to support the Swiss with 1,275 billion Swiss francs, the Swiss Airline and its sister Edelweiss can 1.5 billion in loans the banks get. The Parliament Association of the state aid but with additional environmental and social requirements.
(SDA / chk)
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