Thiele could not …

Good for the company, for the workers at Lufthansa and for Germany," he said.The state's involvement was for a limited time and when the carrier was fit again, it would sell the stake, hopefully at a profit, he said.Economy Minister Peter Altmaier said it was clear that with the state holding a minority stake, Lufthansa would remain an independent company but the deal made it possible to prevent a hostile takeover.But tough decisions lie ahead, with Lufthansa working on a restructuring plan in which up to 22,000 jobs could be at risk - although CEO Carsten Spohr told Bild newspaper that hours and wages could be reduced by a fifth instead of axing a fifth of jobs.Lufthansa has been brought to its knees by COVID-19 and what promises to be a protracted travel slump, and like many rivals, sought state help to stay afloat.

“The major shareholder ends up with a large stake in two German industrial names and enacts a multiyear turnaround plan at Lufthansa which includes the sale-and-leaseback of valuable unencumbered fleet and the spinoff of the much-discussed €3-5 billion MRO [maintenance, repair, and overhaul] business,” Citi wrote in the research note.

The same day saw finance minister Olaf Scholz vow to do everything possible to help Lufthansa survive the crisis. By using this site you agree to the

Investor Relations contacts for private and professional investors: Contact person. Deutsche Lufthansa : Lufthansa investors back $10 billion German government rescue. Lufthansa set for showdown with billionaire investor Thiele over $10 billion bailout Published: June 23, 2020 at 6:47 a.m. “Obtaining the two-thirds required to pass this bill is looking like a struggle,” they said.The Citi team outlined its view on three possible outcomes on Thursday:1) The bailout passes, the stock rises short-term and Lufthansa spends the next three years rebuilding the business in preparation for a significantly dilutive rights issue.2) The bailout doesn’t pass, and the government quickly offers to remove its planned equity stake, which Citi believes is “arguably the best outcome for the shares & management team.”3) The bailout doesn’t pass, no new terms are immediately offered by the government and management resignations follow. Even after Thursday's gains, its shares are down almost 40% this year.Concerned a government stake would make it harder for Lufthansa to make tough restructuring decisions, Thiele had instead proposed an indirect government holding in the airline via Germany's KfW development bank.

In this scenario, Citi predicts that the stock will fall significantly and Thiele could buy more equity and provide cash financing near-term, by collateralizing his stake in rail and commercial vehicle supplier Knorr-Bremse "But he said he could not have voted for insolvency, adding he would continue to seek to influence the company's development, though he declined to say how.The 79-year-old brakes billionaire said it was in the interests of Lufthansa employees that management quickly negotiate restructuring with unions.Lufthansa struck a deal overnight with the UFO union representing German cabin crew that is set to reap more than 500 million euros in savings, including steps to stop pay rises, cut working hours, and a cap on pension contributions.More talks are scheduled on Friday with services union Verdi. "This is very, very good news. Here are the right contact partners for your specific queries of the Lufthansa Group: Contact person.

Thiele has pointed to other European airlines, such as Air France-KLM Investor Relations. ET On June 1, Lufthansa’s supervisory board approved the bailout, which would force it to transfer up to 24 coveted takeoff and However, the bailout requires the support of more than two-thirds of its shareholders — who are due to vote on the package at an extraordinary shareholder meeting scheduled for June 25. Should you wish to contact Lufthansa as a customer or business partner, please phone our hotline in Germany on +49 69 86 799 799. 06/25/2020 | 02:36pm EDT *: *: * By Ilona Wissenbach and Edward Taylor. Lufthansa’s Biggest Investor to Back Government Bailout Deal William Wilkes 6/25/2020. (Writing by Ludwig Burger and Mark Potter and Madeline Chambers; Editing by Edmund Blair and Elaine Hardcastle) “Obtaining the Thiele will meet with Lufthansa Chief Executive and Chairman Carsten Spohr, Germany’s economics minister Peter Altmaier, and the two German ministers who brokered the rescue package in an online meeting on Monday, according to several news reports.According to Citi analysts, only 38% of the shareholder base has registered to vote at this coming Thursday’s bailout-ratifying EGM, effectively giving Thiele the ability to veto the proposed package.

Lina Saigol is the London-based head of corporate news in the Europe, Middle East and Africa regions for MarketWatch and Barron’s Group. That didn't stop shares sliding in morning trade though.