ZCZC
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VIRUS-GERMANY-AVIATION-AID-LUFTHANSA-EU
EU approves huge bailout of German airline Lufthansa
BRUSSELS, June 25, 2020 (BSS/AFP) – The EU’s top competition authority approved the massive bailout of Lufthansa by the German government on Thursday, saving the airline from bankruptcy, but under conditions.
The European Commission said an injection of 6.0 billion euros by Berlin to keep the company afloat was allowed, but that Lufthansa would have to give up prized slots at the Frankfurt and Munich airports to ensure fair competition.
“This substantial amount of aid will help Lufthansa weather the current coronavirus crisis, which has hit the airline sector particularly hard,” EU competition commissioner Margrethe Vestager said.
BSS/AFP/MMA/1355HRS