Lufthansa bailout hopes in hands of investors as board finally clears €9bn deal

Lufthansa’s management has told German government officials and labour representatives that it will run out of cash on June 15.

The supervisory board of Lufthansa has approved Germany’s €9bn bailout proposal, paving the way for the airline to receive the lifeline should shareholders accept the deal.

With the carrier’s cash reserves dwindling, Lufthansa’s supervisory board voted in favour of the plan and called an extraordinary general meeting of shareholders for June 25.