Carsten Spohr has to steer Lufthansa through the most difficult time in the company’s history.
After the state rescue package, the group continues to struggle for its independence. Therefore, the Lufthansa executive board around Carsten Spohr wants the approval of the shareholders in order to be able to raise new equity.
Nafter what is probably the most difficult financial year in the company’s history, the Lufthansa Executive Board will appear before the shareholders this Tuesday. At the Annual General Meeting, which was once again only held on the Internet, the record loss of 6.7 billion euros from the previous year is up for discussion, as is the course from the Corona crisis. In view of the still low air traffic, there should again not be a dividend for the shareholders.
After the rescue with 9 billion euros in government aid, the group is fighting for its independence. The board wants to obtain a reserve resolution from the owners in order to be able to raise up to 5.5 billion euros of new equity at an as yet unknown point in time, which would dilute the shares of the previous owners.
Before the shareholders’ meeting, the cooperative fund company Union Investment and environmentalists called for greater efforts to reduce the environmental pollution caused by flying. The already completed and future staff reductions also met with criticism.
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