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German ministries welcome Lufthansa’s early bailout aid repayment -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Lufthansa McDonnell Douglas MD-11 cargo plane is photographed at Frankfurt Airport in Germany, November 27, 2020. REUTERS/Ralph Orlowski

BERLIN, (Reuters) – Germany’s finance and economic ministries were pleased that flag carrier Lufthansa had repaid the bailout assistance it received from the Coronavirus crisis.

Lufthansa stated Friday that it had paid back the 1 billion Euro ($1.14 Billion) outstanding from a silent participant. It also said that all other government stabilisation funds had been cancelled or repaid.

Lufthansa Group survived the outbreak of coronavirus in Germany, Austria, Switzerland and Belgium. The financial plan was 9 billion Euros. However, the German airline only drew 3.8 billion.

On Friday, the ministries announced that the last stake in the Economic Stabilisation Fund was to be sold no later than October 2023.

($1 = 0.8736 euros)

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