Lufthansa Exec Board To Receive Bonuses For 2021, 2022 Despite State Aid
December 20, 2022
Executive board members at German airline Lufthansa will each receive several million euros as a bonus for 2021 and 2022 despite the company receiving pandemic-related state aid during that time, German daily Handelsblatt reported on Tuesday.
The supervisory board approved the payments at a meeting in early December, Handelsblatt reported, citing company sources.
However, some employee representatives voted against the payment, as they saw it in violation of the rescue package conditions, according to the daily.
A Lufthansa spokesperson told Reuters he could not comment on discussions within the supervisory board.
The German government's economic stabilisation fund saved Lufthansa from bankruptcy during the pandemic with a bailout package totalling 9 billion euros ($9.53 billion). The government sold all its shares in the airline in September.
A Lufthansa spokesperson told Handelsblatt that the money would not be paid out until 2025, if everything went well until then, meaning the payments were not retroactive but rather part of a long-term bonus.
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