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Shareby Tiziana Di Giovannandrea 25 May 2020 The rescue package for the Lufthansa airline has been approved. The plan provides for the allocation of 9 billion euros with a direct stake in the capital of 20% by the state, which becomes the first shareholder.
In fact, the airline has been informed that the Economic Stabilization Fund (WSF) - Coordination of the Economic Stabilization Fund - of the German government has approved the stabilization package for the company. The Governing Council supports the plan.
This was confirmed by the German finance minister, Olaf Scholz, defining that on the table "a very positive solution". The minister stressed that Lufthansa is a "successful company" that has suffered problems "due to the restrictions of the Coronavirus". The German giant "needs a bridge to cross the crisis and move forward," explained Scholz.
The rescue package is subject to the approval of the European Commission and the conditions relating to competition. Meanwhile,
German Chancellor Angela Merkel said she was against the conditions required for rescue by the EU Commission, which would plan to take the take-off and landing rights at the main offices in Frankfurt and Munich. At an internal party meeting today, the chancellor said she did not want to be convinced "too much" by the EU Commission. "It will be a tough battle," added the chancellor at the meeting, a participant in the CDU meeting reportedly told the DPA.