Lufthansa said on Sunday it would launch a capital increase that was expected to raise 2.14 billion euros ($2.51 billion) to pay back part of a state bailout Germany's top airline received during the coronavirus crisis.
A Lufthansa Airbus A320-200 plane is seen on the tarmac at the Lyon-Saint-Exupery airport in Colombier-Saugnieu near Lyon, France, March 14, 2019. REUTERS/Emmanuel FoudrotLufthansa received a 9 bln euro state bailout in 2020said on Sunday it would launch a capital increase that was expected to raise 2.14 billion euros to pay back part of a state bailout Germany's top airline received during the coronavirus crisis.
The airline will use the net proceeds to repay a chunk of the 9 billion euro government bailout it received last year to stay afloat throughout the COVID pandemic, which resulted in the Economic Stabilisation Fund taking a stake in the group. "We are therefore proud that we can now deliver on our promise and repay the measures faster than originally expected. We can now fully focus on the further transformation of the Lufthansa Group," he said.
Insiders told Reuters this year that Lufthansa was planning a capital increase of roughly 3 billion euros but Spohr has said lower pension liability had reduced the need for fresh capital in the past months.have entered into a sub-underwriting agreement for a total of 300 million euros as part of the capital increase and have committed to fully exercise their subscription rights, Lufthansa said.
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