112th Day Of Lockdown

Maharashtra26992414450710482 Tamil Nadu142798925672032 Delhi113740913123411 Gujarat42808298062056 Karnataka4158116249759 Uttar Pradesh3813024203955 Telangana3622123679365 West Bengal3144819213956 Andhra Pradesh3110316464365 Rajasthan2493618630518 Haryana2192916637308 Madhya Pradesh1820713208653 Assam178081141741 Bihar1742112364125 Odisha13737925591 Jammu and Kashmir108276095179 Kerala8323425732 Punjab81785586199 Chhatisgarh4265320219 Jharkhand3963235131 Uttarakhand3608285647 Goa2583154014 Tripura209314752 Manipur16269700 Puducherry146878518 Himachal Pradesh124392710 Nagaland8453400 Chandigarh5884238 Arunachal Pradesh3871452 Meghalaya316462 Mizoram2331510 Sikkim166870
Business Companies 30 May 2020 German airline Lufth ...

German airline Lufthansa agrees to give up airport slots for $10 billion bailout

AFP
Published May 30, 2020, 3:43 pm IST
Updated May 30, 2020, 3:48 pm IST
Lufthansa had agreed to compromise in which airline will have to give up several prized landing slots at Munich and Frankfurt airports
USD 10 billion bailout for Germany's Lufthansa passes hurdle. (AFP Photo)
 USD 10 billion bailout for Germany's Lufthansa passes hurdle. (AFP Photo)

Berlin: German flagship airline Lufthansa agreed Saturday to a compromise worked out between the government and the European Union, overcoming a major hurdle toward final approval of a 9 billion-euro (USD 10 billion) bailout from Berlin.

Lufthansa said in a statement it had agreed to the compromise worked out between Germany and the EU in which the airline will have to give up several prized landing slots at Munich and Frankfurt airports.

 

The dpa news agency reported the German government had also agreed to the compromise.

The government announced the aid package on Monday to help Lufthansa, which, like most airlines, has been struggling during the coronavirus pandemic.

The EU imposed conditions, however, saying that bailouts must include measures that would maintain a level playing field for other companies.

Specifics on the EU's demands weren't announced, but Lufthansa said the scope of commitments it agreed to had been reduced compared to initial plans, dpa reported.

 

Under the agreement, the airline must remove up to four aircraft from the two airports, equivalent to three daily take-off and three landing rights per aircraft, to allow competitors to take the slots, the airline said.

The slots will be re-allocated through a bid process. Discount airlines Ryanair and easyJet are both thought to be interested.

Lufthansa's supervisory board now needs to approve the full rescue package, including the conditions, and the German government needs to finalize its plans with the European Commission.

...
Location: Germany, Berliini, Berlin




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT