The investment company Union Investment of the cooperative Volks- und Raiffeisenbanken has spoken out against excessive influence by the AUA mother Lufthansa. In the negotiations with the German government about state aid, Lufthansa boss Carsten Spohr should not go overboard, portfolio manager Michael Gierse warned of the annual general meeting planned for tomorrow.
“The state is not the better entrepreneur. (…) If politics interferes in business, we see the risk of an oversized infrastructure that is not sufficiently adapted to the new normal,” said the investor representative on Monday in Frankfurt . The corona crisis also offers a downsized Lufthansa opportunities to operate a more modern fleet and to significantly reduce emissions of environmentally harmful emissions.
On behalf of the shareholders, Union Investment demands a simpler corporate structure and a clear focus on the premium segment. “And mind games about the purchase of difficult restructuring cases like Alitalia are self-evident after the crisis!” Explained Gierse. He expressly praised the company’s crisis management.
The Lufthansa Group was hit hard by the corona crisis and reduced its flight operations to a minimum. The company is negotiating state aid with the home states of its airlines. A package of around EUR 10 billion is under discussion in Germany. According to reports, in addition to a silent, interest-bearing federal contribution, direct government participation is also planned. The board of directors and the supervisory board of Lufthansa are discussing the situation this Monday. (dpa / kle)
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