Brussels Airlines: draft agreement between the belgian government and Lufthansa on the rescue plan

The federal government has concluded a draft agreement with Lufthansa (the German group that owns the belgian air) on the rescue of Brussels Airlines due to the

Brussels Airlines: draft agreement between the belgian government and Lufthansa on the rescue plan

The federal government has concluded a draft agreement with Lufthansa (the German group that owns the belgian air) on the rescue of Brussels Airlines due to the crisis of the sars coronavirus.

Brussels Airlines will be able to count on a loan of 290 million euros with a duration of 6 years. The government will receive a guarantee that the money will remain with Brussels Airlines and will thus not be paid to Lufthansa or other companies of the German group. The government will also receive a pledge of the shares of Lufthansa in Brussels Airlines. If the airline is not able to repay the loan, such shares will be so held by the government. The government can also count on two seats on the board of directors of Brussels Airlines.

Updated Date: 21 July 2020, 22:35

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