Lufthansa could need more money next year – Spiegel cites government document

FILE PHOTO: The Lufthansa logo is pictured at Frankfurt Airport in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski

BERLIN (Reuters) – The German government believes flag carrier airline Lufthansa could need more money next year, Der Spiegel magazine reported, citing an internal government document.

It also cited an unnamed government representative as saying that officials and politicians were “losing patience” with airline chief Carsten Spohr, adding that there were doubts that he was the right man to make the savings needed.

But Hermann Thiele, a major shareholder, told the magazine he had confidence in Spohr. “Carsten Spohr is the right man in this difficult situation,” it said.

Germany’s largest airline, which received a 9 billion euro ($11 billion) state bailout out in June, on Thursday reported a quarterly loss of 2 billion euros after the coronavirus pandemic decimated the global travel industry.

Source: Read Full Article