Lufthansa to pay no dividend for 2019 as airline seeks bailout

Lufthansa shareholders Tuesday agreed to not distribute E298m in retained profits as a dividend for 2019, as the airline enters the final stretch of negotiations for a E10b bailout. Lufthansa needs to be rescued after coronavirus travel bans forced the German group to ground 700 of its aircraft, leading to a 99% drop in passenger numbers and causing the group to lose about E1m in liquidity reserves per hour. Some 10,000 shareholders followed the meeting online, representing 33.19% of the share capital, Lufthansa said. <br/>