The location of the Lufthansa is very tense from the point of view of the Ver.di union. "The routes that Lufthansa flies can currently be covered at cost, but profits cannot yet be made," said Federal Executive and Lufthansa Supervisory Board member Christine Behle. Ver.di therefore clearly supports the planned capital increase. The recovery of air traffic takes time. "But if an airline can make it, then Lufthansa," said Behle.
With a view to the federal government's rescue package for the airline, which ran into problems due to the massive drop in bookings in the corona crisis, Behle emphasized the importance of the capital increase. With the new shares, primarily silent participations of the Federal Economic Stabilization Fund (WSF) are to be replaced, as Lufthansa boss Carsten Spohr had announced. This part of the state aid is not cheap for the company, but costs four percent in the current year and five percent in the coming year.
Lufthansa wants them Billions in government aid from the corona crisis Pay back before the general election, Spohr had emphasized. "We were one of the first companies to be bailed out by the federal government," he said. "We also want to be one of the first companies to repay the rescue funds."
Unclear federal involvement
At the Lufthansa general meeting in early May, the shareholders gave the company the green light for a capital increase of up to 5,5 billion euros in the next few years. "I am confident that many shareholders, including many employees, would take part in such a measure," said Behle. It is unclear to what extent the federal government will also participate via the WSF.
However, the Ver.di board member also warned that the Lufthansa board should not go too far when it comes to saving personnel costs. »The share of personnel costs is less than 20 percent. That is little compared to the total cost. The company alone would not be able to reorganize itself to save only at the expense of the employees. «There is already a migration of employees and thus a loss of competence because other companies pay better.
The federal government supported the ailing Lufthansa with billions in aid last summer. Since then, the WSF has held a 20 percent stake in Lufthansa. Most of the aid consisted of a so-called silent participation.