Aviation industry: Brussels-approved rescue package for Lufthansa

The competition authorities of the EU Commission have approved the Donnerstagdas Lufthansa rescue package of the Federal government. The release of recapitaliza

Aviation industry: Brussels-approved rescue package for Lufthansa

The competition authorities of the EU Commission have approved the Donnerstagdas Lufthansa rescue package of the Federal government. The release of recapitalization assistance in the amount of 6 billion euros is, however, subject to the condition that the largest German airline is complying with obligations to prevent vonWettbewerbsverzerrungen. Among these, the Lufthansa takeoff and landing must give rights to the main sites in Frankfurt and Munich. This is to enable the competition, a base with up to four aircraft at the locations to build.

The rescue plan for the Lufthansa provides that the state's economic stabilization Fund (WSF) signed in the course of a capital increase shares, to a participation of 20 percent of the share capital of the airline to build up. In addition, silent participations out of a total of up to 5.7 billion Euro and a loan Of up to EUR 3 billion are planned. The latter is not subject to the requirements and was, in principle, been approved in March.

The EU Commission in Brussels had loosened the rules for state aid due to the Corona-crisis, significantly the last. You don't Wake up, however, is more about support packages for the distortions to disproportionate competition in the single market. She sees this danger, it may demand, as in the case of the Lufthansa special requirements.

agreement for cabin crew

Shortly before the annual General meeting of Lufthansa, the company has agreed with the flight attendants ' Union Ufo on a package of Austerity measures to deal with the consequences of the Corona-crisis. In it savings of more than half a billion Euro are provided, as both sides said on Wednesday night. Through the agreements, operations-related redundancies for the 22,000 cabin staff during the period of the crisis could be avoided, declared the Lufthansa.

The savings program applies to Ufo information by the end of 2023, and includes a four-year employment protection. A it is removal not prevent to be achieved by severance payments and the possibility of early retirement without loss of pension. It was agreed, according to the group, and trade Union compensation exposed to increases in flight hours of employees be reduced and salaries will be reduced accordingly. Also, employers should be contributions to the occupational pension temporarily reduced. The employees kommenfür reductions voluntary measures such as unpaid leave and other working time.

the consent of the members is from

The completion must agree with the Ufo members. The ballot will begin soon. But the Union made it clear that she sees in the agreement a good solution, but also a little peace after a long dispute between the group and Ufo. The statements bring to the cabin staff, "the much needed job security," said Ufo-negotiation leader Nicoley Baublies. "With this package, and the other, together, found solutions, we provide our social partnership finally on a new Foundation."

Updated Date: 25 June 2020, 06:21

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