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MarketScreener Homepage  >  Equities  >  Xetra  >  Deutsche Lufthansa AG    LHA   DE0008232125

DEUTSCHE LUFTHANSA AG

(LHA)
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Germany mulling requests from at least 14 firms for state aid

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08/11/2020 | 11:17am EDT
FILE PHOTO: The weekly cabinet meeting at the Chancellery in Berlin

Germany is examining requests from at least 14 companies for state aid that could see the government take on more stakes in privately held firms due to the COVID-19 pandemic, an economy ministry document showed on Tuesday.

In March, Chancellor Angela Merkel and Finance Minister Olaf Scholz established an Economic Stabilisation Fund worth 600 billion euros (540 billion pounds) to help large corporations survive the coronavirus shock via loans and direct stakes.

Deputy Economy Minister Ulrich Nussbaum told Greens lawmaker Katharina Droege in a letter seen by Reuters that so far 14 firms had expressed a need for recapitalisation.

"For the vast majority of the companies, the audit has just started, and therefore no reliable statements can be made at the moment about the type of possible stabilization measures," Nussbaum wrote.

An economy ministry spokesman declined to comment on the companies that had asked for state help, adding that the government could not disclose any names at this stage due to confidentiality rules.

In May, Germany decided to throw Lufthansa a 9 billion euro lifeline, agreeing a bailout which gives the government a 20% stake in the flagship carrier and veto powers in the event of a hostile takeover bid from abroad.

Germany's central government has spent decades offloading stakes in companies. But it remains a large shareholder in former state monopolies such as Deutsche Post and Deutsche Telekom. Berlin also still has a 15% holding in Commerzbank, which it took on during the global financial crisis.

(Reporting by Rene Wagner; Writing by Michael Nienaber; Editing by Mark Heinrich)


Stocks mentioned in the article
ChangeLast1st jan.
COMMERZBANK AG 3.11% 4.574 Delayed Quote.-17.09%
DEUTSCHE LUFTHANSA AG 5.59% 8.494 Delayed Quote.-48.24%
DEUTSCHE POST AG -0.47% 40.61 Delayed Quote.19.41%
DEUTSCHE TELEKOM AG 0.30% 13.465 Delayed Quote.-7.58%
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Financials
Sales 2020 16 253 M 19 277 M 19 277 M
Net income 2020 -5 853 M -6 942 M -6 942 M
Net Debt 2020 12 710 M 15 075 M 15 075 M
P/E ratio 2020 -0,82x
Yield 2020 -
Capitalization 5 077 M 6 010 M 6 022 M
EV / Sales 2020 1,09x
EV / Sales 2021 0,71x
Nbr of Employees 129 356
Free-Float 83,3%
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Mean consensus SELL
Number of Analysts 22
Average target price 5,64 €
Last Close Price 8,49 €
Spread / Highest target 66,0%
Spread / Average Target -33,6%
Spread / Lowest Target -82,3%
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Managers
NameTitle
Carsten Spohr Chairman-Executive Board & CEO
Karl-Ludwig Kley Chairman-Supervisory Board
Roland Schütze Chief Information Officer
Christine Behle Deputy Chairman-Supervisory Board
Christina Weber Member-Supervisory Board
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