Berlin to take 20% stake in €9bn bailout of Lufthansa as airline struggles amid Covid-19 travel fallout

Germany will offer Lufthansa a €9bn bailout in return for a 20% stake two decades after the airline was privatised with much fanfare.

The aid package involves taking an initial 20% stake that could rise to a blocking minority of 25% plus one share in the event of a hostile takeover, the carrier said. The plan, which requires EU approval and will almost certainly be challenged by rival airlines such as Ryanair, gives Germany an effective veto over company strategy.