April 28, 2020 / 10:18 AM / a month ago

Lufthansa still considering protection from creditors - company source

FRANKFURT, April 28 (Reuters) - The idea of German flagship carrier Lufthansa using a type of protection from creditors is not yet off the table, a source at the airline said on Tuesday.

The source added that Lufthansa was still considering the insolvency protection procedure as an alternative if a rescue package limited the company’s ability to compete too much.

Under consideration is a type of creditor protection scheme which requires that a company is not yet insolvent and in which a company’s management can remain in place to execute the restructuring.

Lufthansa declined to comment. (Reporting by Ilona Wissenbach Writing by Michelle Martin Editing by Sabine Wollrab and Arno Schuetze)

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