June 8, 2020 / 11:37 AM / a month ago

Austria strikes 450 mln eur bailout deal for Lufthansa unit - sources

VIENNA, June 8 (Reuters) - Austria has agreed to a smaller-than-expected bailout package for Lufthansa unit Austrian Airlines of 450 million euros ($508 million) in loans and grants, people familiar with the matter said on Monday.

The package consists of 300 million euros in loans that the government will guarantee 90% of, as well as 150 million euros in grants, the people said. Lufthansa has agreed to provide its Austrian unit with an additional 150 million euro grant of its own, they added.

$1 = 0.8862 euros Reporting by Alexandra Schwarz-Goerlich; writing by Francois Murphy; editing by Thomas Seythal

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