Lufthansa bailout in jeopardy as top shareholder seeks other options

Lufthansa has warned that its E9b bailout from the German government is at risk, after its biggest shareholder indicated he might reject the deal in a vote later this month. Heinz Hermann Thiele, one of Germany’s richest men, who owns more than 15% of the airline, said that while he did not want to block the rescue package, he wanted to determine what other solutions were available to Lufthansa before being forced to vote it through. The carrier responded on Wednesday, saying: “In view of the latest public statements by the company’s largest single shareholder . . . the board considers it possible that the stabilisation package could fail to achieve the two-thirds majority of votes cast that would be required in this case.” It added in the statement that if the rescue package failed to be approved at an extraordinary meeting on June 25, Lufthansa would probably be forced to begin insolvency proceedings. <br/>