Flying Europe’s Subsidy-Friendly Skies – WSJ

Germany’s stock market took flight Tuesday with help from Lufthansa, after the airline’s board accepted a government bailout. Germany’s flag carrier is Europe’s latest to ask for state support to stave off bankruptcy, and it won’t be the last. European taxpayers and travelers, beware.

Lufthansa will receive €9 billion in cash and loans from Berlin in exchange for a 20% ownership stake, keeping the company alive as the coronavirus has all but stopped air travel. This follows a cash injection of some €10 billion in subsidized…

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