Lufthansa's future hangs in the balance as shareholders vote Thursday on accepting a government bailout worth €9 billion. It includes a 20% government stake in the airline.
The move is part of a restructuring plan to cope with the economic fallout of the coronavirus crisis. The airline said it would halve its investment in new aircraft.
The German airline's top shareholder has said he will back the deal, quashing fears he would scupper the government's proposed rescue package. The €9 billion deal is set to be voted on by investors on Thursday.
Heinz Hermann Thiele had criticized a €9 billion rescue plan that would see the government take a 20% stake in the embattled flag carrier. But a day before a shareholder vote, the investor signaled his support.
Shareholders of Germany's flag-carrier have accepted the conditions of a multi-billion euro government bailout to keep the airline aloft. The deal gives the German government a 20% stake in the airline.
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