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German Finance Minister Olaf Scholz announced on Monday that the government agreed on a €9 billion bailout package for Lufthansa.

“It’s a very, very good solution that takes into account both the needs of the company as well as those of taxpayers,” Scholz explained. “Lufthansa rescue package is designed in a way so that the state can leave as early as possible, ideally with a profit.”

Market reaction

Germany’s DAX 30 Index pushed higher on this announcement and was last seen gaining 2.55% on the day at 11,355 points.