German Economy Minister Peter Altmaier briefs the media about the “rescue package” for German airline Lufthansa at the economy ministry in Berlin, Germany May 25, 2020. Markus Schreiber/Pool via REUTERS
BERLIN (Reuters) – Germany is still in talks with the European Commission over its rescue package for flagship carrier Lufthansa (LHAG.DE), Economy Minister Peter Altmaier said on Monday, adding that Berlin expected 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.
Reporting by Michael Nienaber, Editing by Franklin Paul