Lufthansa and the Austrian government have reached a deal to bail out the German carriers' subsidiary Austrian Airlines with 600 million euros ($678 million), Austrian newspapers reported Monday.
To rescue Austrian Airlines amid the coronavirus crisis, it will get 300 million euros in state-backed bank loans, as well as a capital injection of 150 million euros from the Austrian state.
The remaining 150 million euros will be provided by Lufthansa, the newspapers Kurier and Der Standard reported online ahead of a government press conference that is planned for the early evening.
In return for the state aid, Lufthansa promised it would keep Austrian Airlines operating in Vienna for at least 10 years, and that it would boost Vienna's role as a long-distance hub, according to the reports.
Lufthansa is also in need of state support.
At the end of May, the airline agreed on a compromise with the German government and the European Union on the way towards final approval of a 9-billion-euro bailout deal.
Please click to read our informative text prepared pursuant to the Law on the Protection of Personal Data No. 6698 and to get information about the cookies used on our website in accordance with the relevant legislation.
6698 sayılı Kişisel Verilerin Korunması Kanunu uyarınca hazırlanmış aydınlatma metnimizi okumak ve sitemizde ilgili mevzuata uygun olarak kullanılan çerezlerle ilgili bilgi almak için lütfen tıklayınız.
