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Lufthansa To Suspend Coupon Payments On 2015 Hybrid Bond

Lufthansa Group said it decided to suspend future coupon payments for the hybrid bond issued in 2015 (maturing in 2075) for the duration of the government stabilization measures, which means until the repayment of the drawn silent participations and the sale of the shareholding in Deutsche Lufthansa AG by the Economic Stabilisation Fund
in Germany.

The decision was based on the view of the EU Commission that such coupon payments constituted a violation of the state aid regulations of the Temporary Framework for state aid to support the economy in view of the outbreak of COVID-19 and the conditions of the state aid approval of the stabilization measures in favor of Lufthansa.

Lufthansa Group intends to make up for the deferred coupon payments as soon as possible once the stabilization by the Economic Stabilisation Fund has been completed.

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