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European Commission Approves German Plans For Recapitalisation Of Lufthansa

The European Commission has approved Germany's 6 billion euros recapitalisation of Deutsche Lufthansa AG (DLAKF,DLAKY). The recapitalisation measure is part of a larger support package that also includes a state guarantee on a 3 billion euros loan that Germany plans to grant to Deutsche Lufthansa as individual aid, previously approved by the Commission. The approval ensures further measures to limit distortions of competition.

Executive Vice-President Margrethe Vestager, in charge of competition policy, said: "Lufthansa has committed to make available slots and additional assets at its Frankfurt and Munich hub airports, where Lufthansa has significant market power. This gives competing carriers the chance to enter those markets, ensuring fair prices and increased choice for European consumers."

The recapitalisation will be financed by the Economic Stabilisation Fund, a special fund established by Germany to provide financial assistance to German companies affected by the pandemic.

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