The airline group Lufthansa shot up 14.4% on Thursday after the opening of the negotiation in Frankfurt after the majority shareholder Heinz Hermann Thiele signaled that it is ready to approve the rescue and the entry of the German state in the shareholding.
Lufthansa shares rose 14.4% to 10.25 euros in the early stages of trading on the Frankfurt Stock Exchange.
Lufthansa is holding an extraordinary shareholders' meeting today to approve the German government's rescue plan of 9 billion euros and the State's entry into its shareholding. Thiele, who has a slightly more than 15% stake in Lufthansa, told the "Frankfurter Allgemeine Zeitung" newspaper that he will vote in favor of the rescue in the extraordinary meeting.
Lufthansa shareholders will decide today from 10.00 GMT whether the State will enter the capital of the company.
The company, the German government and Brussels had negotiated for weeks a bailout that was later criticized by Thiele , who opposed the German government going to take a 20% stake in Lufthansa and said he wanted an alternative to be explored.
Lufthansa warned that the failure of the state bailout would mean that the group will have to declare insolvency near the extraordinary shareholders' meeting, if no other solution is found.
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