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FRANKFURT (Dow Jones) – Burdened by the crisis in the aviation sector, the liquidity at Deutsche Lufthansa has noticeably decreased in recent months. As of the end of June, the centrally available liquidity was 2.8 billion euros, as the airline announced when it presented its quarterly figures. That is a decrease of 1.4 billion euros compared to the level at the end of the first quarter.
The funds promised to stabilize the group, especially from the Economic Stabilization Fund of the Federal Republic of Germany (WSF), are not yet included in the liquidity figures as of June 30th. Including these funds totaling 9 billion euros, the group would have a total of 11.8 billion euros in liquidity.
Since the beginning of July, the group has received 2.3 billion euros from the stability package. Through the capital increase, with which the WSF built up a stake of 20 percent in the company’s share capital, the Lufthansa Group received around 300 million euros in liquid funds. The call for the first tranche of the KfW facility contributed 1 billion euros, and the establishment of Silent Participation II on the part of the WSF ensured an inflow of funds of another billion euros.
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(END) Dow Jones Newswires
Aug 06, 2020 01:12 AM ET (05:12 GMT)