Lufthansa to receive bonuses despite government support
2022.12.20 02:21
Lufthansa to receive bonuses despite government support
Budrigannews.com – German newspaper Handelsblatt reported on Tuesday that executive board members at German airline Lufthansa will each receive several million euros in bonuses for the years 2021 and 2022, despite the company receiving state aid related to the pandemic at that time.
Handelsblatt, citing company sources, reported that the payments were approved by the supervisory board at a meeting early in December.
However, the daily reports that some employee representatives voted against the payment because they believed it would violate the terms of the rescue package.
During the pandemic, Lufthansa was rescued from bankruptcy by the German government’s economic stabilisation fund with a bailout package worth 9.53 billion euros. In September, the government sold all of its airline shares.
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Handelsblatt was informed by a spokesperson for Lufthansa that the funds would not be distributed until 2025 if everything went according to plan, indicating that the payments were not retroactive but rather a component of a long-term bonus.
