To ARD information there is agreement on a rescue package for Lufthansa. According to “Spiegel”, the state wants to join the airline directly. CEO Spohr had warned against too much state influence.
By Michael Immel, ARD aviation expert
To ARD research there is now a general agreement on a rescue package for Lufthansa at ministerial level. Key points are said to have been lashed down. Neither Lufthansa nor the Ministry of Economic Affairs make any official statements.
According to the news magazine “Spiegel”, government officials are in favor of direct entry. Accordingly, 5.5 billion euros should flow to Lufthansa in the form of a silent participation by the federal government. In return, the federal government apparently requires a guaranteed dividend of nine percent. In addition, the state wants to join Lufthansa directly at 25.1 percent, which should cost just under a billion. The state credit institution for reconstruction (KfW) should contribute another 3.5 billion euros. The government wanted to provide a guarantee for this, it said.
General meeting elects supervisory boards
Until recently, Lufthansa boss Carsten Spohr had warned against too great an influence on the state of his company. With the state at the wheel, the group is very difficult to control. But now it looks like one or two political representatives could sit on the supervisory board in the future. Incidentally, this will be reassembled next Tuesday. Five supervisory boards must be filled at the general meeting of Deutsche Lufthansa AG.
In a pre-published speech manuscript by the CEO, Spohr underlines that Lufthansa must remain competitive even after the Corona crisis. To the shareholders, he explains: “State aid is not an end in itself. We associate it with clear goals and assume responsibility towards the taxpayers who make it possible: In order to remain competitive, we want the Lufthansa Group and keeping the European airline group together. That is our overarching goal. “
“No state management”
Spohr wants “no state management” For him it is clear: If Lufthansa wants to survive against the three major airline groups in the United States, China and the Gulf in the long term, then only as a European airline group. “Above all, we must not be over-indebted. That would paralyze us for years. We have to work today on a plan for how we can reduce government loans and investments as quickly as possible. Politicians are called upon to ensure that aid is provided not lead to an imbalance in international competition “, appeals to the Lufthansa boss. Competitors from the USA, China and the so-called low-cost airlines, in particular, were now trying to restructure themselves healthily with state help in the Corona crisis.
A rescue package for airlines there was put together in the United States more than four weeks ago – weighing in at $ 25 billion. The airlines are said to be given about a fifth of this sum as a gift.
In his speech, Spohr emphasizes again that he “does not need state management”. But if, as is now becoming apparent, the state were to acquire a share package and thus receive a blocking minority, then it would also have an impact on major strategic decisions in the company. And on future regulations for the remuneration of the board members.
Rescue package linked to climate goals
A look at European neighbors in the aviation industry shows how an aid package for the airline holding company AirFrance-KLM has been linked to conditions there. France and Holland are loosening billions, but the loans are subject to clear conditions. A restructuring plan that has already been submitted must now be massively accelerated. The government in Paris is also demanding that AirFrance cut less profitable domestic routes in France.
Climate protection also plays an important political role for the rescue package: the fleet is to be continuously upgraded to use less fuel. And AirFrance-KLM must compensate 100 percent of the CO2 emissions generated on domestic flights. Flying cleaner, flying quieter, both countries are helping the holding company.
Guarantee for jobs
The government has also set guidelines for passenger airlines in the United States. The deal is: The airlines are not allowed to fire employees until the end of September for the billion dollar injection. In addition, they must guarantee that their route network will be operated at least minimally. But what now also leads to the fact that jets fly largely empty in the USA and maintain domestic traffic. Sometimes with stopovers to go to several airports with one flight. A state-ordered collective flight taxi – beyond economic and ecological efficiency.
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