Hardly any company has been more affected by the corona crisis than Lufthansa. Air traffic has plummeted by up to 90 percent, and passenger numbers are currently at the level of the 1950s. This is why there is to be a top-level meeting between the board and the federal government next week. It is supposed to be a multi-billion dollar rescue package for the Dax group. Chancellor Angela Merkel (CDU), Finance Minister Olaf Scholz (SPD), Minister of Economics Peter Altmaier (CDU), Minister of Transport Andreas Scheuer (CSU) and Lufthansa CEO Carsten Spohr want to negotiate state aid, as the German press agency learned on Saturday. Previously, the “Bild” newspaper reported that such a top talk was planned shortly.
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The bailout package is worth nine to ten billion euros, government circles said. However, there is still controversy in the federal government in what form the federal government is helping Lufthansa and how much say the politicians should have in the event of a temporary state participation. In government circles it was said that Lufthansa should not be dragged from all sides, the situation was already dramatic enough.
Participation rights for the federal government?
SPD faction leader Rolf Mützenich rejects a silent participation of the federal government in Lufthansa. “If companies like Lufthansa receive billions in government aid from taxpayers’ money, the federal government must have a say,” he told the “Bild” newspaper. “It is essential for the employees to be responsible.” According to the report, Spohr wishes the federal government to participate silently in the airline.
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Lufthansa is severely affected by the corona crisis. The group had announced on Thursday that it was no longer possible to save yourself from the Corona crisis on your own. The company had announced that the operating loss of EUR 1.2 billion in the first three months of the year would be followed by an even higher minus in the current quarter. For the foreseeable future, the group would no longer be able to meet the current capital requirements with additional funds raised on the market.
In the Corona crisis, the federal government had decided on a stabilization fund with which the state could participate in companies if necessary. However, the fund is not yet ready for use. The Federal Government is working on a legal regulation with precise criteria. The EU Commission has to agree.
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Lufthansa boss Spohr has already attuned the airline’s employees to tough times. After the crisis, Lufthansa will probably have a fleet smaller by 100 aircraft, the CEO said on Friday in an internal message to the employees. This results in a calculated surplus of 10,000 employees. “But we will continue to do everything we can to keep as many employees on board as possible,” said Spohr.
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So far, Lufthansa had mentioned the number of 7,000 jobs that could be lost due to the crisis. Among other things, the operation of the company “Germanwings” is to be discontinued. Before the pandemic broke out, Europe’s largest aviation group had around 130,000 employees and 760 aircraft worldwide. Even before the Corona crisis, the group planned to sell the LSG Sky Chefs catering division with around 35,000 employees worldwide.
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