Saturday, November 27th, 2021
Block of shares gains in value
Lufthansa rescue brings in a lot of money from the state
In the worst industry crisis in history, Germany and other states jumped to the side of Lufthansa with billions in aid. According to the head of the crane airline, the payback for the state is considerable. Taxpayers earn money in one position in particular.
According to Lufthansa boss Carsten Spohr, the German state earns around one billion euros in saving the airline in the corona crisis. In an interview with the “Westdeutsche Allgemeine Zeitung”, the manager put the interest on the government loans already repaid at 92 million euros. “In addition, the state will also earn around one billion euros from its equity stake,” he said. “For the taxpayer, the rescue of Lufthansa, for which we are all very grateful, was good business.” The federal government wants to sell the share package of a good 14 percent by October 2023.
Germany, Switzerland, Austria and Belgium supported Lufthansa in the worst industry crisis in history with a financial framework of nine billion euros. Two weeks ago the airline announced that it had repaid the loans and the silent partnership contribution from the German state. The Lufthansa boss expects flight bans worldwide for people who have not been vaccinated against the corona virus. “We see this trend worldwide. Global freedom will be preserved for those who have been vaccinated and those who have recovered.”
At the group subsidiaries Swiss and Austrian Airlines, almost all employees in flight operations are vaccinated, in Germany it is estimated that over 90 percent. Lufthansa has had good experiences with the 3G rule for domestic flights. Spohr welcomed the intention of the SPD, Greens and FDP in their coalition agreement to advocate minimum prices for air travel at EU level. He basically reckons with increasing ticket prices due to climate requirements.