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Air carriers. Lufthansa will return state aid by September

The promise of CEO Carsten Spohr

Air carriers all over the world are not equipped with lungs, but everyone is confident in this period in a breath of fresh air. Lufthansa is a clear example of this. Carsten Spohr, managing director of the German company, said that by next September there will be the return of 9 billion euros, that is to say the discussed state aid that always causes some controversy in the sector. The reasoning is obvious: the Teutonic airline is in more acceptable economic conditions than some time ago and, since it was the first to receive the financial support referred to, it also wants to be in the front row in returning it in full.

In recent days, however, a buzzword has emerged to keep in mind. Lufthansa wants to relaunch itself at all costs, in particular to pay off its debt which is certainly not of indifferent proportions. Given that the forecasts speak of an effective recovery of air transport in the course of 2023, it is necessary to reduce current expenses. Just a year ago, the shareholders of the German company voted in favor of an aid package that guaranteed the public bailout. It was the aforementioned 9 billion euros, although this year's net debt should be about double this amount. Up to € 5.5 billion of new capital may be requested from the market in an offer of shares to be programmed. The overall expenses should therefore be affected by a scissor cut of 3.5 billion euros.

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AVIONEWS - World Aeronautical Press Agency