, The German state is the initial the largest Airline in the country. Economy Minister Peter Altmaier talks about the strategy behind the Deal between Lufthansa and the Federal government.
Germany’s flagship Airline, Lufthansa is due to Corona in trouble financially. The German state of multi-billion dollar rescue package for the ailing crane-line. How much influence is gained thereby? the Federal Economics Minister, Peter Altmaier, takes position. Learn more about this subject in our mercury App. How the Download works, we explain here*.
Frankfurt/Berlin – The start signal for the billion-dollar rescue of the Lufthansa is delayed. Although the overall policy framework for loans and the state since Wednesday entry below a blocking minority, however, the Supervisory Board of the Dax-group could not deal on Friday with the Details. Thus, the panel could not be convened in the capital measures necessary extraordinary General meeting.
For the shareholder meeting, according to Lufthansa, a period of notice of four weeks. So far, the plans include: The Federal government will provide nine-billion-Euro , and a minority participation of 20 per cent of the Lufthansa shares. What is the strategy behind? And the group for the state airline is? We spoke with the economy Minister Peter Altmaier (CDU).
rescue of the Lufthansa: Corona torpedoed “Germany’s Position in world markets”
“The state is a lousy businessman”, you said so yourself once. The same is not true in matters of the Lufthansa Group, all of a sudden?
Peter Altmaier: This applies to the full. The state should, wherever possible, resist the temptation to make business decisions, that was and is my attitude. In the case of Lufthansa, but it is something else: Here is a company rich in tradition, which was positioned on the world market has come through the Corona of a crisis without the fault in the greatest difficulties. Such a company, we have to help: It comes to tens of thousands of jobs and it comes to Germany’s Position in world markets. I have to voice still heard no serious, the advocates send the Lufthansa and all of its employees in the event of insolvency.
+ A shield for Lufthansa: The current plans of the Federal government’s nine billion euros on the flight Gessel shaft.©dpa
How can you justify the involvement of the private competitors of Lufthansa about Ryanair?
Altmaier: Europe’s air travel needs for the Corona pandemic, strong players in the fierce international competition. That is why we have put together for the Condor, a rescue package*. And that is why we help now, the Lufthansa. Other countries, such as France, to support their airlines in a similar manner.
backstops due to Corona-crisis: now Comes a nationalization Orgy?
In the economic stabilization Fund, there are 100 billion euros for investments. Since you could buy many companies. A nationalization Orgy, as the FDP feared?
Altmaier: We make no orgies, and we also buy any large corporations. Also, the FDP wants Lufthansa to survive. The company needs because of the Corona-crisis* both loans and equity. The exact configuration of the support we are negotiating intensively. We make sure that we stabilize the company, responsible with the taxpayers ‘ money, but we are not in a single operational decisions of the company involved.
The Federal government should give the #Lufthansa 9 billion euros, and still receives only a participation of 20%, although the company is on the stock exchange, only 4 billion euros in value. No private Investor would conclude a bad deal!
@katdro https://t.co/jNAKtkgiGg— Sven Kindler (@sven_kindler) May 21, 2020
once again: Are more companies on the list of future state investments?
Altmaier: We have in our protective shield in addition to grants and loans aware of the possibility of the capital increase included, in order to help companies, through no fault of are due to the Corona-pandemic* in serious emergencies. So we want to get the substance of our economy, in order to secure jobs and prosperity to the Corona.
Corona-the economic program: Altmaier significant accents for climate promises “protection”
President of the Macron, which is not just a socialist, demands of Air France as a counter-power, that you omitted on domestic flights, because even in France, the state promotes the rail. Ask the Lufthansa in the same condition?
Altmaier: I think the French way at this point for Germany, not for suitable. The Lufthansa AG invested already heavily in sustainability and climate protection. We will continue in our next economic stimulus plan, clear directions for the protection of the climate. But if you start with requirements for individual companies, blurring the state border and steered the group very quickly.
+ Federal Minister Peter Altmaier (CDU).©dpa
not, the fact Remains that the state is involved in a company, the more dividends for shareholders and bonuses for the Manager to pay?
Altmaier: I am with the Finance Minister, Olaf Scholz agree.
the state participation on forever or is there an Exit strategy? When is the Federal government out of it?
Altmaier: For me, as Minister of the economy, regulatory policy is clear: We need to the Corona-crisis* more market economy and more restraint of the state. Therefore, you must give and it will be a clear Exit strategy. The state will withdraw as quickly as possible back to the Lufthansa then comes alone to cope with. This also applies to similar cases, we may need to meet in the future decisions.
In the TV “Hard but Fair” settles an activist with Altmaier – “the Absolute low point of a miserable transport policy”
Interview: Werner Kolhoff
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section list image:©dpa
