Lufthansa Gains Following Breakthrough on $10 Billion Bailout

(Bloomberg) — Deutsche Lufthansa AG shares surged after Europe’s biggest airline overcame most of the barriers to receiving a 9 billion-euro ($10 billion) bailout from the German government.The stock gained as much as 8.3% and was priced 6.6% higher at 9.75 euros as of 9:04 a.m. Tuesday, the first day of trading on the Frankfurt bourse since last week.Barriers to the rescue began to crumble late Friday, with Lufthansa agreeing to hand over operating slots at its main hubs to win European Union backing for the deal. Its supervisory board approved the compromise in a vote on Monday.Lufthansa is seeking …read more

Source:: Yahoo Finance