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Lufthansa is in advanced talks over a €9 billion ($9.9 billion) state bailout that would see Germany take a 20 per cent stake in its flagship airline as countries fight to save a coronavirus-hammered aviation industry, reports Reuters.
Lufthansa said a deal on Thursday would involve the government taking two seats on its supervisory board, but only in exceptional circumstances would it exercise its full voting rights, such as protecting the firm from taking over.
For weeks, Lufthansa has been discussing aid with Berlin to help it cope with what is expected to be a prolonged travel slump, but has been struggling over how much control to yield in return for aid.
Negotiating sources said the government’s Economic Stabilization Fund had not yet submitted a final offer, but should do so on Thursday.
German media reported that a deal had been made late on Wednesday and Chancellor Angela Merkel said she expected a rescue package agreement soon, but did not elaborate.