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Lufthansa uses aircraft as security

Lufthansa wants to strengthen its financial cushion. Therefore, the group is now pledging eight of its aircraft.

Lufthansa, supported by state aid, strengthened its financial cushion last year by using eight aircraft as collateral. With the five Airbus A350s and three A320s, a total of around 500 million euros had been raised, the airline said on Thursday.

Lufthansa, which was saved from bankruptcy due to the corona crisis with a package of nine billion euros in state aid, also obtained 1.6 billion euros on the capital market at the end of last year.

The group wants to purchase favorable conditions from private investors in order to repay the higher-interest state funds by 2023 if possible. “The transactions again show the confidence that the market has in our company and our restructuring measures,” explained CFO Wilken Bormann. Aircraft financing should continue to play an important role as it offers attractive conditions.

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