The General Court of the European Court of Justice reverses the European Commission’s approval of the German government’s €6 billion recapitalization of Lufthansa. According to the court, the day-to-day management of the EU made several errors of assessment.
The recapitalization took place in the context of the corona pandemic. Due to travel restrictions, many flights were not possible for months, which put the German airline in financial difficulty. The German government then intervened and received permission from the day-to-day administration of the EU. However, according to the General Court, part of the EU Court, the committee made several errors of assessment in its assessment of this capital injection.
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
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