Deutsche Lufthansa has announced that it has repaid financial aid provided by the German government last year during the pandemic, and that the government will sell its entire stake in the airline by October 2023.
The German airline stressed that it has repaid the remaining amount of 1 billion euros from its participation in the German Financial Stabilization Fund, also known as “tacit participation”.
Repayment of tacit participation 2 was made earlier than originally planned. The unallocated funds were canceled, he added.
Lufthansa recently stressed that the repayment would take place by the end of the year, as it completed the long-awaited capital increase of 2.16 billion euros in early October.
“This was made possible mainly by the growing demand for air travel, the rapid restructuring and transformation of the group and the confidence of the capital market in the company,” he stressed.
In October, Lufthansa, which received € 9 billion in aid last year, had already repaid € 1.5 billion for the tacit participation package 1.
Along with the € 1 billion loan it repaid to German state-owned development bank KfW, Lufthansa has now repaid or terminated all loans and tacit contributions.
With the repayment or termination of all aid, the German government will sell about 14% of its stake in Lufthansa by October 2023 at the latest.
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Source From: Capital
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