By Reuters |
Lufthansa's management board has accepted a more favourable set of demands from the European Commission in exchange for approval of a 9 billion euro ($10 billion) government bailout, the carrier said on Saturday, paving the way for its rescue.
The agreement comes after the airline's supervisory board on Wednesday rejected an initial deal with Brussels including conditions that were significantly more painful. Lufthansa and the rest of the airline sector have been hard hit by what is expected to be a protracted travel slump.....
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