Deutsche Lufthansa – AGM 5 May 2020
WARNING: Due to the COVID-19 pandemic, the AGM will take place but no shareholders will be allowed to attend personally. Shareholders are invited to vote by proxy, via the independent representative or electronically.
Item 2: On 13 March 2020, Lufthansa announced to suspend the dividend for 2019, taking into account the Groupns financial outlook and the exceptional crisis the aviation industry is facing. The Group's fundamental policy of distributing 20% to 40% of net profit remains unaffected. The proposal reflects the focus on preserving liquidity. In view of the recent events relating to COVID-19, ECGS is in favour of postponing decisions on the dividend, reductions or suspensions that would allow companies to avoid liquidity risks or not generate risk for their survival.
Item 6: We recommend to oppose the revised remuneration system for the Management Board due to concerns over disclosure, structure and absolute pay levels.
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").
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