• News (73)
    bbc.co.uk (27 May 2020)

    COVID-19: Lufthansa agrees €9bn rescue deal with Germany

    LUFTHANSA has agreed a rescue deal for £8bn (€9bn) with the German government that saves it from collapse. The German government will take a 20% stake in the firm, which it intends to sell by the end of 2023, and will also inject €5.7bn in non-voting capital, which is known as a 'silent participation'. The bailout deal will help save up to 10,000 jobs.

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    Financial Times (29 Apr 2020)

    COVID-19: British Airways to cut up to 12,000 jobs as aviation outlook darkens

    BRITISH AIRWAYS' parent company IAG has announced plans to cut up to 12,000 jobs due to the coronavirus crisis. The decision was made due to the aviation sector suffering the most from the Covid-19 outbreak. IAG warned that a return to 2019 passenger levels would take 'several years'. Scandinavian airline SAS is planning to cut around 5,000 full-time positions from its workforce. LUFTHANSA is considering filing for creditor protection and NORWEGIAN announced that the bulk of its fleet was likely to remain grounded for the next 12 months.

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