Austria Agrees 450 Million Euro Aid Deal for Lufthansa Arm
- Austrian Air to get direct payment, state-backed loans
- German parent guarantees Vienna’s hub status for a decade
Austrian Airlines AG passenger aircraft sit on the tarmac at Vienna International Airport.
Photographer: Lisi Niesner/Bloomberg
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Deutsche Lufthansa AG’s historic state bailout increased by 450 million euros ($508 million) after Austria agreed to provide support to the German carrier’s division in the country.
Austrian Airlines will get 150 million euros in direct aid plus 300 million euros in loans underwritten by the government, helping to sustain the unit as carriers begin to restore flights amid an easing of coronavirus lockdowns, Chancellor Sebastian Kurz said in a briefing Monday.