The shareholders of Deutsche Lufthansa AG voted in favor of accepting the capital measures and the
participation of the Economic Stabilization Fund (WSF) of the Federal Republic of Germany in Deutsche
Lufthansa AG. The corresponding proposal received the necessary majority at today’s Extraordinary
General Meeting of the company. The package provides for stabilization measures and loans of up to 9
billion Euros. The WSF will make silent capital contributions of up to 5.7 billion Euros to the assets of
Deutsche Lufthansa AG. It will also establish a 20 percent stake in the share capital of Deutsche
Lufthansa AG by way of a capital increase. This capital increase was approved at today’s Extraordinary
General Meeting. The shareholders also voted in favor of granting two conversion rights for parts of the
silent capital contributions. These conversion rights are intended, on the one hand, to safeguard the
Federal Government in case of a takeover of Lufthansa and, on the other hand, to secure the interest
payments for the silent capital contribution. Both conversion rights can be transformed into a further
five percent of the company’s share capital should these conditions be met. The package will be
supplemented by a loan of up to 3 billion Euros with the participation of KSF and private banks.

Carsten Spohr, Chairman of the Executive Board of Deutsche Lufthansa AG says: “The decision of our
shareholders provides Lufthansa with a perspective for a successful future. On behalf of our 138,000
employees, I would like to thank the German federal government and the governments of our other
home countries for their willingness to stabilize us. We at Lufthansa are aware of our responsibility to
pay back the up to 9 billion Euros to the taxpayers as quickly as possible.”

As a result of the resolution of the Extraordinary General Meeting, the company’s liquidity is secured on
a sustained basis. The companies of Lufthansa Group are working at full speed to get their operations up
and running again. The airlines’ flight schedules will therefore be consistently expanded in the coming
weeks. The flight schedule for the next few weeks will be published at the beginning of next week. The
plan is to include 90 percent of all originally planned short-haul destinations and 70 percent of all long-
haul destinations in the flight schedule again by September.
Around 30,000 shareholders attended the Extraordinary General Meeting. A total of 39.0 percent of the
share capital was represented. Of these, 98 percent of the capital present voted to accept the
company’s proposed resolution. This means that far more than the necessary two-thirds majority voted
in favor of adoption. The European Commission had already approved the stabilization package before the start of the Extraordinary General Meeting. A decision on the approval of the stabilization measures
in the other home markets of Lufthansa Group will be made in the near future.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Our Visitor's Count

Our Reach Count

+

Instagram

Facebook

Twitter

Linkedin

Contact

Our Address

Delhi-110092

Email Us

richa.rjassociates@gmail.com

Call Us

011 35587932


0
Would love your thoughts, please comment.x
()
x