Online meeting: Lufthansa boss warns at general meeting of excessive government aid – share turns positive | message
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“Above all, we shouldn’t be over-indebted. That would take us years to take,” said the CEO on Tuesday at the general meeting of the DAX group on Tuesday. The company must already plan how government loans and investments can be repaid as quickly as possible after the Corona crisis has been overcome.
Politicians must ensure that aid does not lead to an imbalance in international competition, Spohr explained. In the current situation, competitors from the USA or China could rehabilitate themselves healthily with the help of the state. International competition should not be distorted by the type and scope of different state aid.
Lufthansa now needs state support. “But we do not need state management,” said Spohr, adding: “Nobody in the federal government in Berlin wants a state-controlled Lufthansa either.”
Negotiations on the precise design of state aid between interest-bearing silent participations and direct participation were still ongoing on Tuesday. Fund companies like Deka and the cooperative Union Investment supported the course of CEO Spohr against excessive government control before the meeting.
Lufthansa shares are currently up 1.54 percent in the Xetra business to EUR 8.04. while the morning was still in the loss zone.
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