Lufthansa approves convertible bond; purchases more aircraft

Last week, at the Annual General Meeting, shareholders of Deutsche Lufthansa approved the new authorization to issue convertible bonds, bonds with warrants, profit participation rights and/or participating bonds (or combinations of these instruments) and the renewal of Authorized Capital A and a corresponding amendment to the Articles of Association by a broad majority. Lufthansa’s Authorized Capital A is for a nominal amount of €1bn, which accounts for approximately 35% of the current share capital. This is intended to ensure that any further impacts from the COVID-19 pandemic can be mitigated but also to finance “any major corporate acquisitions” either with