In trouble: Planes of German carrier Lufthansa parked on a closed runway at Frankfurt airport, Germanys. Europe’s largest airline has warned that it’s running low on cash and won’t be able to survive without state aid from Germany, Switzerland, Austria and Belgium. — Reuters
FRANKFURT: Deutsche Lufthansa AG spent the last two decades forging a business empire that stretched across the wealthiest countries of continental Europe. Forced into retreat by the coronavirus crisis, it’s now bogged down by ties to four governments as it seeks a multi-billion euro bailout.
Europe’s largest airline warned last Thursday that it’s running low on cash and won’t be able to survive without state aid from Germany, Switzerland, Austria and Belgium. Each of those countries contributed former national carriers to the sprawling airline group, and negotiations are ongoing for an aid package that could total 10 billion euros, according to people familiar with the matter.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
