Austrian Airlines has reached a deal with the Austrian Government and parent Lufthansa for a €600 million ($677 million) coronavirus rescue package that comes with strict ecological requirements attached.
FRANKFURT—Lufthansa’s board of directors has approved a compromise reached by the European Commission and the German government that clears the way for the airline to receive a €9 billion ($9.9 billion) bailout and fend off an insolvency filing.
Nuremberg Airport (NUE) has unveiled a new incentive scheme to support airlines in the recovery period following COVID-19. Routes spoke to MD Michael Hupe and head of route development Christian Kaeser to find out more about the strategy.
The German government and the European Commission are trying to overcome an impasse that is threatening a €9 billion ($9.9 billion) rescue package for Lufthansa.
FRANKFURT—The German government is in the final stages of negotiating a support package for Lufthansa that would give the airline access to around €9 billion ($9.9 billion) in new liquidity, coming just in time to avoid a possible insolvency process.
Lufthansa Group is to cooperate with Swiss technology institute ETH Zurich to accelerate the availability of aviation fuel produced using carbon dioxide and water extracted from the atmosphere using concentrated sunlight.
More European airlines have outlined how they intend to rebuild their networks over the coming weeks after the mass fleet groundings in response to the COVID-19 pandemic.
Lufthansa is nearing an agreement with the German government for a €9-10 billion ($9.8-10.9 billion) rescue package made up of several components as the airline aims to resume a substantial amount of flights in June.
Lufthansa subsidiary Austrian Airlines said April 29 that it needs €767 million ($833 million) in financial assistance from the state to survive the COVID-19 crisis.
Lufthansa Group said April 23 that it needs financial assistance by its home countries to be able to survive as it cannot get sufficient access to additional liquidity in financial markets.
Lufthansa is to permanently decommission more than 40 aircraft including six Airbus A380s, reduce Eurowings’ long-haul business and scrap its Germanwings brand.
Lufthansa decided April 7 to make deep cuts to its future fleet, repositioning it to becoming an airline around 20% smaller than before the coronavirus pandemic crisis.