Lufthansa shares soar after major shareholder backs bailout plan

Lufthansa shares soar after major shareholder backs bailout plan

Lufthansa shares soar after major shareholder backs bailout planLufthansa shares jumped by 10% on Thursday after investor Heinz Hermann Thiele dropped his objections to a 9 billion euro ($10.12 billion) government bailout to rescue the carrier hit hard by the coronavirus pandemic. “I will vote for the proposal,” Thiele, who recently increased his stake in Lufthansa to 15.5%, told the Frankfurter Allgemeine daily on Wednesday. Shareholders are due to vote on the bailout at Lufthansa’s virtual extraordinary general meeting on Thursday.