Lufthansa’s $9.8b bailout bogged down in talks with EU

Germany’s E9b bailout of Lufthansa is being slowed by discussions meant to ensure the rescue plan receives swift EU approval once it’s finalized, people familiar with the matter said. One detail to be ironed out is a timetable for Germany’s exit from a direct stake it would take in Europe’s largest airline, one of the people said, asking not to be named because the talks are confidential. Bild am Sonntag reported earlier that Lufthansa would face a three-year deadline for repayment of the aid package. The outlines of the rescue deal that would make Germany the airline’s largest shareholder came together last week, ending weeks of debate. The government had aimed to issue a formal offer to the airline this weekend but talks between Germany, Lufthansa and the EC are holding up the plan, the person added. A Lufthansa supervisory board meeting has been delayed to Tuesday from Monday, Handelsblatt reported earlier. The German government has loosened its requirement that Lufthansa accept delivery of about E5b in Airbus aircraft orders, the newspaper said.<br/>