Lufthansa soars after top shareholder backs bailout – ZAWYA

Lufthansa soars after top shareholder backs bailout – ZAWYA

Lufthansa soars after top shareholder backs bailout Lufthansa soars after top shareholder backs bailout | ZAWYA MENA Edition HomeMarketsEquitiesArticleLufthansa soars after top shareholder backs bailout Shareholders to vote on rescue plan at EGM on Thursday    Damaged Lufthansa's flag flutters at the Lufthansa Aviation Center in Frankfurt, Germany June 25, 2020.FRANKFURT - Lufthansa shares jumped as much as 20% on Thursday after its top shareholder dropped his objections to a 9 billion euro ($10 billion) government bailout for the German airline brought to the brink of collapse by the COVID-19 pandemic."I will vote for the proposal," billionaire investor Heinz Hermann Thiele, who recently increased his stake in Lufthansa to 15.5%, told the Frankfurter Allgemeine daily on Wednesday.His endorsement amounts to an 11th-hour reprieve for Germany's flagship airline after fears had swirled he might veto the proposed rescue, which will see the government take a 20% stake and board seats, diluting existing shareholdings."I will vote for the proposal," billionaire investor Heinz Hermann Thiele, who recently increased his stake in Lufthansa to 15.5%, told the Frankfurter Allgemeine daily on Wednesday.FRANKFURT - Lufthansa shares jumped as much as 20% on Thursday after its top shareholder dropped his objections to a 9 billion euro