Lufthansa aims for €3b capital boost

Lufthansa shareholders this month approved a potential capital increase


Reuters May 11, 2021

BERLIN:

Lufthansa is working with Deutsche Bank and Bank of America to sound out investors about a capital increase worth roughly €3 billion ($3.7 billion), possibly as soon as June, people close to the matter said. The final size and timing of the rights issue to repay state aid Lufthansa received during the pandemic will be subject to market conditions and the German airline is expected to opt for a June/July or September/October window, the people said. Lufthansa and the banks, the lead advisers on the deal, declined to comment. Lufthansa shareholders this month approved a potential capital increase of up to €5.5 billion, though Finance Chief Remco Steenbergen has said that was just the sum of the two tranches of hybrid capital, dubbed silent participation, it received as part of a 2020 bailout.

Published in The Express Tribune, May 11th, 2021.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

E-Publications

Most Read

COMMENTS

Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ