DEUTSCHE lufthansa has repaid or cancelled all remaining stabilisation funds from the German government which the carrier was able to access at the start of the pandemic, reports London's Air Cargo News.
Carsten Spohr, CEO of Deutsche Lufthansa, said: 'Lufthansa was able to rely on Germany and Germany can rely on Lufthansa. Many challenges remain. Our ambition is to strengthen our position among the world's leading airline groups. To this end, we will consistently continue the restructuring and transformation of the company.'
The German government's package originally provided measures and loans totalling up to EUR9 billion (US$10.2 billion), of which the company has drawn down a total of around EUR3.8 biilion. This includes around EUR306 million with which the Economic Stabilisation Fund (ESF) built up its shareholding in Lufthansa group.
The Silent Participation II of the ESF amounting to EUR1 billion was repaid in full. The company had already repaid Silent Participation I in October, of which only EUR1.5 billion was drawn, of which the unused and remaining part has now been terminated too.
The repayment was made much earlier than originally planned due primarily to the rising demand for air travel, restructuring and transformation of the Lufthansa Group and the capital markets' confidence in the company, said a spokesperson.
Mr Spohr said: 'On behalf of all Lufthansa employees, I would like to thank the German government and the German taxpayers. In the most serious financial crisis in our company's history, they have given us a perspective for the future. This has enabled us to save more than 100,000 jobs.
'We are proud that we were able to keep our promise earlier than expected and repay the German financial aid. I would like to thank our employees for their great commitment and especially our customers who have remained loyal to us in these challenging times.
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Carsten Spohr, CEO of Deutsche Lufthansa, said: 'Lufthansa was able to rely on Germany and Germany can rely on Lufthansa. Many challenges remain. Our ambition is to strengthen our position among the world's leading airline groups. To this end, we will consistently continue the restructuring and transformation of the company.'
The German government's package originally provided measures and loans totalling up to EUR9 billion (US$10.2 billion), of which the company has drawn down a total of around EUR3.8 biilion. This includes around EUR306 million with which the Economic Stabilisation Fund (ESF) built up its shareholding in Lufthansa group.
The Silent Participation II of the ESF amounting to EUR1 billion was repaid in full. The company had already repaid Silent Participation I in October, of which only EUR1.5 billion was drawn, of which the unused and remaining part has now been terminated too.
The repayment was made much earlier than originally planned due primarily to the rising demand for air travel, restructuring and transformation of the Lufthansa Group and the capital markets' confidence in the company, said a spokesperson.
Mr Spohr said: 'On behalf of all Lufthansa employees, I would like to thank the German government and the German taxpayers. In the most serious financial crisis in our company's history, they have given us a perspective for the future. This has enabled us to save more than 100,000 jobs.
'We are proud that we were able to keep our promise earlier than expected and repay the German financial aid. I would like to thank our employees for their great commitment and especially our customers who have remained loyal to us in these challenging times.
SeaNews Turkey
