NS Long-awaited financingWill be underwritten by 14 banks and will be completed in early October, with Frankfurt-based airlines reimbursing the full € 2.5 billion withdrawn from their Economic Stability Fund (ESF) by the end of the year. 

German ESF participated 9 billion euro rescue package For Lufthansa, including support from the Austrian, Swiss, Italian and Belgian governments last summer. Berlin has also spent € 300 million on shares in the company and currently owns almost 16 percent of the group.

Lufthansa has repaid many of its withdrawals from the package, including a € 1 billion loan from German development bank KfW.

When the ESF tranche is fully repaid, the airline will cancel the entire facility and reimburse the remaining government for € 1.2 billion, a spokeswoman said.

“

Now we can fully focus on the further transformation of the Lufthansa Group.”

CEO Carsten Spohr said.

After being forced Ground almost all planes At the height of the pandemic, the group was slowly recovering, with flights in August reaching 50% of flights in the same month of 2019.

Cre: California news times

Nguyen Mai Huong-COMM