June 25, 2020 / 9:30 AM / 15 days ago

Germany welcomes EU green light for Lufthansa bailout

Lufthansa planes are seen parked on the tarmac of Frankfurt Airport, Germany June 25, 2020. REUTERS/Kai Pfaffenbach

BERLIN (Reuters) - Germany’s economy and finance ministers on Thursday welcomed the approval by the European Union for a government bailout package for Lufthansa (LHAG.DE) and urged shareholders to approve the deal at a meeting later in the day.

In a joint statement, the two ministers welcomed the EU move, noting the bailout was essential to secure jobs.

“This concerns more than a hundred thousand jobs and Germany’s position in world markets,” Economy Minister Peter Altmaier said.

Reporting by Emma Thomasson; Editing by Michelle Martin

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