Europe's largest airline group Lufthansa will raise over $2.5 billion by selling off shares in order to pay back part of a state bailout
A Lufthansa Airbus A320-200 plane is seen on the tarmac at the Lyon-Saint-Exupery airport in Colombier-Saugnieu near Lyon, France, on March 14, 2019.
The airline will use the net proceeds to repay a chunk of the $10.5 billion government bailout it received last year to stay afloat throughout the Covid-19 pandemic, which resulted in the Economic Stabilisation Fund taking a stake in the group. Lufthansa said that based on its operating performance in July and August it expected to post positive adjusted earnings before interest and tax in the third quarter.
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