Lufthansa fears that the rescue package recently negotiated with the federal government could be rejected at the annual general meeting. Part of the agreed measures is a capital increase, which would result in a 20 percent stake in the Economic Stabilization Fund of the Federal Republic of Germany in Deutsche Lufthansa AG. However, this capital increase must be approved by the Annual General Meeting – and the management of the DAX Group now sees the majority required for this in jeopardy.
“The board currently assumes that the attendance at the extraordinary general meeting on June 25 will be less than 50%. In view of the latest public statements by the largest single shareholder, Heinz-Hermann Thiele, he believes it is possible that the stabilization package could miss the two-thirds majority of the votes cast in this case, ”reports the Lufthansa Group on Wednesday. Such a failure would have consequences: “This would mean that Deutsche Lufthansa AG might have to apply for bankruptcy protection proceedings shortly before the Annual General Meeting if another solution is not immediately found,” the company continues.
Most recently, investor Heinz-Hermann Thiele had significantly expanded his stake in Lufthansa and is currently the largest single shareholder with a stake of over 15 percent. In one Interview with the F.A.Z. (behind the payment barrier!) the rescue package negotiated with the state hard. In his opinion, not all options were exhausted, says Thiele. “The Lufthansa boss should develop a feel for what the major shareholders think,” says the Lufthansa investor and demands better information: “There is a lack of transparency because Mr. Spohr has not named the alternatives dealt with by the federal government. The board has to put them on the table. ”
The Lufthansa share, which had climbed to 11.035 euros this morning, is currently only trading at 10.67 euros (+2.5 percent).