Lufthansa's supervisory board has approved a 9 billion euro ($10 billion) government bailout that will force the German airline to give some of its prized landing slots to rivals.
) supervisory board has approved a 9 billion euro government bailout that will force the German airline to give some of its prized landing slots to rivals.
Under the plans, the German government will take a 20% stake in the airline, which could rise to 25% plus one share in the event of a takeover attempt, as well as two seats on its supervisory board. Lufthansa, which said it would publish first-quarter results on June 3, said it is obvious that international air traffic will not bounce back to pre-crisis levels in the foreseeable future.
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