After a state rescue: Lufthansa: Thiele expects a multi-year renovation phase

After the state rescue of the Lufthansa shareholder Heinz Hermann Thiele expects large so that the restructuring of the German airline “will take five to six years”.

“This is for all the parties Involved in a painful way,” said Thiele in an Interview with the “Bild am Sonntag”. But: “How painful that can say no.” In each case the aim is to “make the Lufthansa for the future.” The Management will design a restructuring plan.

“Due to the extensive loans, which must be interest-bearing and repaid in full, rich human and material is not cost reduction,” said Thiele on. “There are also investments from subsidiaries to the test must. You must not look at everything, what is the absolute Core for the next few years is necessary,” said the major shareholder. The Catering business in Europe, or parts of the Lufthansa Technik belong.

The shareholders of the MDax-listed group agreed on Thursday to a 20% capital participation of the Federal Republic of Germany. Thus, Lufthansa can fly with German government assistance. The aid package has a volume of nine billion euros. In the run-up to the Self-made billionaire Thiele had made critical comments on the, in his opinion, to strong state influence.