Lufthansa has reached a temporary deal with the German Vereinigung Cockpit pilots union, which will delay the onset of any pilot redundancies until at least March 2021. The deal intends to buy both parties more time to settle negotiations for the longer-term, as the airline continues to battle with the COVID-19 induced aviation downturn. As
The move – which will see Berlin acquire a 20 per cent stake in the airline – received overwhelming support from the meeting, with 98.04% in support.
Lufthansa’s management board accepted a more favourable set of demands made by the European Commission in exchange for approval of a €9 billion government bailout.
Lufthansa’s supervisory board has met to discuss the European Commission’s conditions placed on a potential government bailout loan. Lufthansa’s board was expected to approve the conditions for its hard-won loan from the German government. The sanctions imposed by the European Commission have resulted in the airline refusing to accept the deal and has said it
Ryanair chief executive has slammed the German government’s decision to grant €9 billion ($9.88 billion) of aid to Lufthansa.
Lufthansa will become a partially state owned airline as it comes to an agreement with the German government over the conditions of its funding under the Economic Stabilisation Fund, or Wirtschaftsstabilisierungsfonds (WSF). The package will provide stabilisation measures and loans to the airline totaling up to €9 billion. The bailout will be biggest for an
