Lufthansa Supervisory Board unhappy with EU conditions, suspends convocation of General Meeting for approval of rescue package

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At its meeting today, the Supervisory Board of Deutsche Lufthansa AG discussed the acceptance of the stabilisation package offered by the Economic Stabilisation Fund (WSF) of the Federal Republic of Germany, including the necessary convocation of a General Meeting.

The Supervisory Board has taken note of the conditions currently indicated by the EU Commission. They would lead to a weakening of the hub function at Lufthansa’s home airports in Frankfurt and Munich. The resulting economic impact on the company and on the planned repayment of the stabilisation measures, as well as possible alternative scenarios, must be analysed intensively.

Against this background, the Supervisory Board was unable to approve the stabilisation package in connection with the EU conditions. However, the Supervisory Board continues to regard WSF stabilisation measures as the only viable alternative for maintaining solvency.

Deutsche Lufthansa AG will not convene an Extraordinary General Meeting for the implementation of the stabilisation measures for the time being.

  • 27-MAY-2020 News Release

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