Prior to the annual General meeting: relief rally at Lufthansa

signals of a major shareholder Heinz Hermann Thiele for a possible approval for the state rescue of the Lufthansa let the share price of the air transport compa

Prior to the annual General meeting: relief rally at Lufthansa

signals of a major shareholder Heinz Hermann Thiele for a possible approval for the state rescue of the Lufthansa let the share price of the air transport company prior to the extraordinary General meeting on this Thursday to rise. The listing of the now in the MDax of the medium-sized values of shares to rise by more than 10 percent to a little less than 10 euros.

Also helps that the competition authorities of the EU Commission have approved the 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 distortions of competition. 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.

was very popular in the market, that the group and the trade Union Ufo in the meantime, a crisis package for the flight attendants with savings of more than half a billion euros agreed.

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major shareholder Thiele took first in the F. A. Z. against the entry of the state to the conditions applicable to the strong but then on the eve of the approval indicates. The billionaire owns more than 15 per cent of the Lufthansa shares and would thus prevent the state of entry-level single-handedly.

In the case of a rejection of the bailout package by Thiele Lufthansa threatened with insolvency, investors should expect high losses. It looks as if the price risk for Thiele in connection with a bankruptcy too high, said a dealer.

Updated Date: 25 June 2020, 04:20

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