Lufthansa : An ambitious reimbursement plan for state aid but a capital increase inevitable, in our view
>Target to reimburse state-backed aid by 2023 - Even though details are lacking for the time being, we welcomed the commitment to reimburse the € 9bn (+€ 1.4bn from Switzerland?) provided by the stabilisation plan before the end of 2023, the date at which we forecast a return to the pre-crisis situation. That said, we do not see how Lufthansa could avoid a significant capital increase in the meantime. This financing merely offers the airline time to wait for the reval...Deutsche Lufthansa is an aviation group based in Germany. Co. maintains global operations and a total of more than 500 subsidiaries and associated companies. Co. operates in five major business segments: scheduled passenger air traffic ("Passenger Airline Group"); scheduled airfreight services ("Logistics"); maintenance, repair and overhaul ("MRO"); information technology ("IT Services") and catering ("Catering").
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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