Even when the pandemic is more relaxed, Lufthansa does not make any profits. Verdi federal board member Christine Behle, herself on the Group’s supervisory board, therefore supports the planned capital increase.
The Verdi union continues to see Lufthansa in a tense situation. At the same time, Federal Executive and Lufthansa Supervisory Board member Christine Behle made clear her support for the planned capital increase.
“The routes that Lufthansa flies, they can currently fly at cost-covering, but profits cannot yet be made,” said Behle of the German press agency in Berlin. “The recovery of air traffic takes time. But if an airline can make it, then Lufthansa. “
The supervisory board supported a capital increase. “A capital increase would be an important step for the company to sustainably strengthen the balance sheet and to be able to repay the stabilization measures,” said Behle with a view to the federal government’s rescue package. “I am confident that many shareholders, including many employees, would take part in such a measure.”
Behle went on to say that the Lufthansa Executive Board should not go too far when it comes to saving personnel costs. “The proportion of personnel costs is less than 20 percent. That is little compared to the total cost. The company would not be able to reorganize on its own by saving only at the expense of the employees. There is already an emigration of employees and thus a loss of competence because other companies pay better. “
At the Lufthansa general meeting in early May, the shareholders gave the company the green light for a capital increase of up to 5.5 billion euros in the next few years. With the new shares, primarily silent participations of the Federal Economic Stabilization Fund (WSF) are to be replaced, as Lufthansa boss Carsten Spohr had announced. This part of the state aid is not cheap for the company, but costs 4 percent in the current year and 5 percent in the coming year.
It is unclear to what extent the federal government would participate in a capital increase through the WSF. The federal government supported the ailing Lufthansa with billions in aid last summer. Since then, the WSF has held a 20 percent stake in Lufthansa. Most of the aid consisted of a so-called silent participation. The airline was hit hard by the drastic drop in bookings in the Corona crisis.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
