German airline Lufthansa suffered a quarterly loss of 2.1 billion euros in the first quarter; Due to the suspension of flights due to the spread of Corona virus.
According to Arabia Net, the company had obtained a government rescue package worth nine billion euros last week, with the company undertaking a significant reduction in expenditures, and the German government would receive a share Twenty percent of the company.
The company's sales fell 18% in the first quarter, to 6.44 billion euros.
Lufthansa, the Supervisory Board of the German airline, said that it had agreed to save a government money worth nine billion euros (10 billion dollars) would force the German airline to abandon some of its main sites To take off and land competitors.
Karl Ludwig Clay, head of the Supervisory Board of the Lufthansa, said: We recommend our shareholders to follow this path, even if this requires them to make significant contributions to the stability of their company. p>
"But we must clearly say that Lufthansa has a very difficult road ahead of it," he added. The approval is the latest step in the complex government rescue of Lufthansa, which was badly affected by the Corona virus pandemic and its implications for the travel sector, and follows the approval of the group's executive board last week.
The financial rescue still needs the approval of Lufthansa regulators and shareholders who are due to hold an extraordinary general assembly meeting via closed-circuit television on June 25th. .
Under the plan, the German government will take a 20% stake in Lufthansa and also have two seats in its supervisory council. "rtl" style = "text-align: justify;">
Lufthansa said that it would publish its results for the first quarter on the third of June.
