GERMANY IN TALKS WITH EU OVER LUFTHANSA BAILOUT

Germany is still in talks with the European Commission (EC) over its rescue package for flagship carrier Lufthansa, Economy Minister Peter Altmaier said on Monday, telling Reuters Berlin expects Brussels to give the green light for the bailout.

“We liaised with Brussels on all big rescue packages with which we avoided millions of unemployed and prevented a lot of companies from bankruptcy. They were all approved at the end... so this gives me hope that we’ll also find a solution in this case,” Altmaier told ARD public television.

Germany on Monday threw Lufthansa a 9 billion euro ($9.81 billion) lifeline, agreeing to a bailout which gives Berlin a veto in the event of a hostile bid for the airline, which the Merkel government is keen on exercising.

Michael Nienaber of Reuters noted that Lufthansa, one of the most efficient airlines in the world, joins the list of flag carriers that have been hobbled by the COVID-19 pandemic. #COVID19