Lufthansa has repaid the final installment of the aid it received from the German state to weather the pandemic crisis, the airline said in Frankfurt on Friday.
“On behalf of all Lufthansa employees, I would like to thank the German government and the German taxpayers.
“In the most serious financial crisis in our company’s history, they have given us a perspective for the future.
“This has enabled us to save more than 100,000 jobs,’’ Chief Executive, Carsten Spohr, said.
A direct shareholding of 14 per cent of the capital stock is still outstanding, owned by Germany’s Economic Stabilization Fund (WSF).
Lufthansa repaid the first instalment of the German state’s “silent participation” in October, and the second and final instalment on Friday.
This meant that all German loans, including interest, had now been repaid or terminated, the airline said.
In addition, the WSF had undertaken to sell its stake in Lufthansa amounting to around 14 per cent of the share capital by October 2023 at the latest.
Repayment of all the aid is a precondition for further consolidation of the sector in Europe that is widely foreseen.
Mergers are ruled out for as long as the airlines are enjoying state support.
Together with Austria, Belgium and Switzerland – where the group’s subsidiaries Austrian Airlines, Brussels Airlines and Swiss are based – Berlin provided nine billion euros ($10.3 billion) for this purpose.
The full amount was never fully utilised by Lufthansa. (dpa/NAN)
