33.2 C
Qādiān
Saturday, June 7, 2025

Reshaping Perspectives and Catalyzing Diplomatic Evolution

European justice cancels its plan to rescue Lufthansa and SAS

The court said in a statement that the European Commission, which approved a German rescue plan for Lufthansa for 6 billion euros in 2020, “made several errors” because the German company “was unable to to finance itself on the markets” to meet its needs. .

As for the Danish and Swedish plan for the Scandinavian company, which was also approved by Brussels in 2020, its value is just over one billion euros.

These appealable judgments follow legal action, in particular by the low-cost airline Ryanair, which considers itself a victim of competition. But its impact remains uncertain.

The aid mechanism for the German airline, which saw the German State enter its capital in exchange for fresh money, has already been put in place.

In September, the German state sold the last shares it still held in the capital of Lufthansa, after having entered 20% in 2020. Thus, the company became entirely owned by private shareholders.

Read the Latest World News Today on The Eastern Herald.

More

Iran warns Europe, ‘Trigger Mechanism’ will end nuclear agreement

Iranian Foreign Minister Abbas Araghchi issued a stern warning...

“We Won It Alone” – Trump tries to erase Russia’s role in WWII

President Donald Trump has announced that May 8 will...
Show your support if you like our work.

Author

Arab Desk
Arab Desk
The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

Editor's Picks

Trending Stories

Laurita Fernandez poses totally nude on her back in her Instagram

Laurita Fernandez is one of the most talented dancers...

JJ McCarthy’s injury rattles Minnesota Vikings as quarterback crisis deepens

The Minnesota Vikings, once brimming with optimism after selecting...

Prostitution in Dubai: Understanding the Dark Side of the City

Dubai, a city celebrated for its lavish shopping experiences,...