Germany agrees on rescue package for Lufthansa - Der Spiegel

The German government has agreed on final details of a rescue package for struggling airline carrier Lufthansa , Der Spiegel magazine reported on Wednesday.

Lufthansa is seeking to tap Germany's economic stabilisation fund to help it weather the coronavirus pandemic and what is expected to be a protracted travel slump. The ministers in charge put the finishing touches on the bailout package and a government official was on his way to Frankfurt to seal the deal with airline managers, the magazine reported.

The German finance ministry and the economy ministry both declined to comment. A Lufthansa spokesperson also denied any statement on the media report. The airline said on May 7 that it was negotiating a 9 billion euro bailout with the German government to ensure its future, confirming an earlier Reuters report.

Lufthansa said then that the package included a non-voting capital component, known as a so-called silent participation, a secured loan, and a capital increase which may leave the government with a shareholding of up to 25% plus one share.