German gov approves support package for Lufthansa

Germany on Monday approved a 9 billion-euro ($9.8 billion) aid package for stricken airline Lufthansa to keep a major employer going through the turbulence of the coronavirus pandemic.

But officials said Berlin was still in talks with the European Union's executive commission about possible conditions.

Economy Minister Peter Altmaier said that talks with Brussles "are also ongoing at pace", adding that he was "optimistic" without commenting on what specifically was at issue.

German Finance Minister Olaf Scholz said that the state's committment will be of a temporary nature, and that shares will be sold again once the company had recovered.

Conditions for the bailout include the airline not paying a dividend and restrictions on management pay.

The package conditions would also let the government block the possibility of an unwanted takeover.

The aid package would also require approval by a shareholder meeting.