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HomeAll newsMost read newsBusiness Leaders Biography
Age : 79
Public asset : 13,110,547,638 USD
Biography : Heinz Hermann Thiele is on the board of Knorr-Bremse AG (former Chairman-Supervisory Board) and Mana

Lufthansa investor Thiele seeks talks with German government: Handelsblatt

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06/18/2020 | 11:54am EDT
Lufthansa presents its new logo during a press event in a maintenance hangar of the airline at the airport in Frankfurt am Main

Lufthansa's biggest shareholder, German billionaire Heinz Hermann Thiele, has reached out to Berlin politicians for talks, Handelsblatt said, the latest step in a standoff over the airline's 9 billion euro ($10.1 billion) bailout.

Lufthansa shareholders need to approve the rescue package but Thiele, who has ammassed a 15% Lufthansa stake, has criticised bailout terms and is raising more cash by selling down 760 million euros worth of shares in rail and commercial vehicle supplier Knorr-Bremse.

Thiele and Knorr-Bremse declined to comment.

The entrepreneur is against Germany taking a stake of up to 20% in the airline, terms which Lufthansa and the German government have agreed to as part of the planned rescue of the company.

Lufthansa fears that Thiele's lack of approval for a bailout deal could bring down the rescue package at next week's Annual General Meeting on June 25.

(Reporting by Holger Hansen in Berlin and Joern Poltz in Munich; Writing by Edward Taylor, editing by Thomas Escritt)

Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE LUFTHANSA AG 1.45% 9.084 Delayed Quote.-44.64%
KNORR-BREMSE AG 0.63% 89.85 Delayed Quote.-0.99%
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