Lufthansa received nine billion euros, approximately 90 billion kronor, in state aid during the worst aviation crisis ever. Now the airline has paid it all back, and earlier than expected, management announces.
Major cost savings are behind the airline's early exit from the market, and it even posted a small profit last quarter. Around 30,000 employees have been laid off during the coronavirus crisis. The plan is for another 3,000 to leave in the future.
The state also became a co-owner of the airline as part of the financial rescue to avoid bankruptcy. The idea is that the state will be gone as an owner by October 2023. So far, ownership has decreased from 20 to 14 percent.
