businessUpdated: May 30, 2020 15:33 ISTGerman flagship airline Lufthansa agreed Saturday to a compromise worked out between the government and the European Union, overcoming a major hurdle toward final approval of a 9 billion-euro ($10 billion) bailout from Berlin. The dpa news agency reported the German government had also agreed to the compromise. The government announced the aid package on Monday to help Lufthansa, which, like most airlines, has been struggling during the coronavirus pandemic. Specifics on the EU’s demands weren’t announced, but Lufthansa said the scope of commitments it agreed to had been reduced compared to initial plans, dpa reported. Lufthansa’s supervisory board now needs to approve the full rescue package, including the conditions, and the German government needs to finalize its plans with the European Commission.

Source: Hindustan Times May 30, 2020 10:04 UTC