The AUA parent goes on the offensive and holds out the prospect of a possible capital increase.

Since the beginning of the pandemic, the crane airline has been saving where it can. Without government aid, the crisis would have turned into a debacle. At that time, the federal government took a 20 percent stake in Lufthansa through the Economic Stabilization Fund (WSF). But now a capital increase is becoming more and more likely - and with it possibly the end of state participation.

In any case, it did not take long: Specifically, the group announced on Tuesday night that preparations were underway for a capital increase with four banks. The net proceeds would "especially contribute to the repayment of stabilization measures of the economic stabilization fund and to the restoration of a sustainable and long-term efficient capital structure", it says in the broadcast.

The state economic stabilization fund (WSF) is also expected to be involved in the capital increase - but without spending any additional taxpayer money on it. This is done using what is known as an Opération Blanche: a shareholder sells part of his subscription rights for the new shares in order to exercise the remaining subscription rights with the proceeds. This would mean that the federal government's share would continue to shrink.

However, the Management Board and the Supervisory Board have not yet made a decision on the scope and timing of the measure. In addition, there is currently no approval from the WSF.