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Monday, January 18, 2021

Lufthansa nears bailout; EasyJet gets ready to fly

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Lufthansa nears bailout; EasyJet gets ready to fly
Lufthansa nears bailout; EasyJet gets ready to fly

Lufthansa looks to be closing in on a $9.9 billion state bailout deal.

Meanwhile, EasyJet says it's getting ready to put a few planes back in the air.

Julian Satterthwaite reports.

Lufthansa is closing in on a rescue deal.

It’s expected to see a 9.9 billion dollar state bailout.

That will see Germany take a 20% stake in its flagship airline.

Lufthansa has been in talks over the deal for weeks.

The sticking point has been how much control to yield in return for help.

On Thursday (May 21) the firm said the government would get two seats on its supervisory board, but only use its voting rights in exceptional circumstances.

Lufthansa expects the deal to include waiving of future dividend payments, and limits on management pay.

Reuters sources say the German government will make its final offer Thursday.

A glimmer of hope for the sector, meanwhile, over at easyJet.

The British budget airline - Europe’s second largest - says it will resume some operations from June 15.

It will mainly be UK domestic flights and some services to France.

EasyJet says passengers will have to wear masks on board, and there will be no food service.

All planes will be subject to enhanced cleaning regimes.

The airline hopes to gradually resume more flights.

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