Coronavirus aid funding for corporations should come with additional conditions, Economy Minister Peter Altmaier (CDU) told German radio on Monday. He wants companies that accept public money to cease paying out shareholder dividends and for management to take a pay cut. Given that Altmaier said this just as Germany gave budget airline Condor a €550 billion loan, what did he have to say about flag-carrier Lufthansa?
For more information about the airline situation in Germany, check out Sam Morgan’s latest story: “Germany divided over how to bail out flyers” and read up on the country’s measures since the virus outbreak in Germany.
Lufthansa is still in talks with the government about a possible bailout. These discussions are generating a rift in Germany’s grand coalition, particularly around state representation on the company’s board which is supported by the Social Democrats (SPD).
Altmaier addressed Lufthansa in the interview directly, saying “I am in favour of companies like Lufthansa having a chance to get back on their feet and make profits again.”