Germany Reaches EU Deal on $9.9 Billion Lufthansa Bailout
- Officials in Brussels, Berlin find compromise over slots
- Accord sets stage for supervisory board to approve rescue
A Deutsche Lufthansa AG passenger aircraft is towed at Frankfurt Airport, operated by Fraport AG, in Frankfurt, Germany, on Thursday, May 28, 2020.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
The German government worked out its differences with the European Commission over a 9 billion-euro ($9.9 billion) bailout of Deutsche Lufthansa AG, clearing the way for the rescue of Europe’s biggest airline to move forward.
After intense talks, the commission and the German government agreed that Lufthansa will reduce its presence at airports in Frankfurt and Munich by four aircraft each. The accord, which the airline’s management said it would accept, would give a toehold to new competitors hoping to challenge the dominant German carrier on its home turf.