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FRANKFURT (Dow Jones) – The state rescue package for Lufthansa is as good as in dry bags. In an interview with the Frankfurter Allgemeine Zeitung, the key wholesaler Heinz Hermann Thiele announced that he would approve the package at the virtual general meeting on Thursday. “I will vote for the resolution,” said Thiele, who holds over 15 percent of Lufthansa.
Thiele’s approval was on the brink after the billionaire had criticized the state entry. Only 38 percent of shareholders registered for Lufthansa’s online general meeting, which is why a two-thirds majority is required to approve the € 9 billion rescue package.
“It is in the interests of all Lufthansa employees that management can conduct swift negotiations with the unions about the necessary restructuring,” said Thiele.
There are still “different positions” with the government representatives. Ultimately, however, he could not have voted for bankruptcy. “That is why I will continue to influence the development of Lufthansa in the future.” In what form he intends to do this, he did not want to find out about it.
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(END) Dow Jones Newswires
June 24, 2020 13:44 ET (17:44 GMT)