Germany Dares Lufthansa’s Billionaire Top Shareholder to Scuttle Bailout
- Vote on $10 billion rescue package to proceed without changes
- Billionaire Thiele has criticized terms of government offer
Heinz-Hermann Thiele
Photographer: Alex Krauss/Bloomberg
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Germany stood by its 9 billion-euro ($10 billion) bailout plan for Deutsche Lufthansa AG, daring the airline’s disgruntled top shareholder to shoot it down at a pivotal vote this week.
With Lufthansa fighting for survival after the coronavirus outbreak punctured a decades-long global travel boom, billionaire Heinz-Hermann Thiele is threatening to block the rescue plan -- which would dilute his 15.5% holding and influence -- at a shareholder meeting scheduled for Thursday.