Factbox: German companies seek state aid to cope with coronavirus

(Reuters) - A number of German companies have taken out state-backed loans as part of the federal government’s aid package to deal with the coronavirus crisis.

FILE PHOTO: Lufthansa planes are seen parked on the tarmac of Frankfurt Airport, Germany June 25, 2020. REUTERS/Kai Pfaffenbach

Here is a list of companies that have applied for the package or plan to do so, in reverse chronological order:


The shareholders of flagship carrier Lufthansa backed a 9 billion euro (£8.2 billion) government bailout on Thursday.

The plan, backed by 98% of the shareholder capital that cast a vote at the online meeting, will see Berlin take a 20% stake in Lufthansa and two board seats.


The indebted German minerals miner applied for an additional state-secured credit line to cut debt, Chief Executive Burkhard Lohr said early in June.

Lohr said the secured loans for which K+S had applied were short-term facilities from state-owned German bank KfW, and that the company would be able to pull out of the agreement if needed. He added that the 2021 dividend may also be affected.

In May, K+S slashed its dividend proposal to 4 euro cents per share from a previously proposed 15 cents per share to become eligible for state aid.


The German perfume retailer said at the end of May it had been in talks with KfW about a loan, but discussions were put on hold as it could not reach an agreement on conditions.


Late in May, Germany’s government said it was planning to inject at least 5.5 billion euros into state-owned rail operator Deutsche Bahn, which had been hit by the collapse in travel.

Employees will contribute a further 2 billion euros up until 2024 and a debt cap will be lifted, the government said.


The German forklift truck and robotics maker said on May 22 it had agreed an additional credit facility of up to 1.0 billion euros with its core group of lenders and KfW.

Under the terms of the agreement, KfW would grant 80% of the total while the company’s core banks the remaining 20%.


Car parts maker Benteler is considering applying for state-backed loans in Germany, three sources familiar with the talks said in May, adding though that its tax status could ruin its chances.


The sportswear maker, which in April proposed suspending its dividend due to the pandemic, said earlier in May it had secured a new revolving credit facility of 900 million euros, including 625 million from KfW.


The German car rental company said earlier in May it had agreed a 1.5 billion euro loan with a bank consortium including KfW, with a term of up to two years.


Thyssenkrupp has secured about 1 billion euros in state aid, sources close to the matter said at the end of April.

The KfW loan should help the conglomerate to maintain operations until money from the sale of its elevator division arrives.


The electronics supplier said at the end of April it had secured a government-backed loan of 1.7 billion euros under the condition, among others, that the company suspend dividend payments.


Germany’s government and the federal state of Hesse have agreed to give charter airline Condor loans worth 550 million euros, the economy minister said at the end of April, after the owner of Poland’s LOT pulled out of a deal to buy the group.


The company, which was forced to suspend dividend payments as a condition of a government-backed loan in mid-April, said it would replace the 2.4 billion euro facility with other financial options as soon as possible.

Manager Magazin said later that month that the sportswear maker was planning a multi-billion euro bond.


The battered German auto supplier said in April it was in advanced talks with its banks to obtain a 330 million euro loan, 90% of which would be guaranteed by the federal government and the state of Bavaria.


To cope with the impact of COVID-19, the holiday operator received a 1.8 billion euro loan commitment from KfW to supplement its existing 1.75 billion euro credit agreement.

Compiled by Bartosz Dabrowski, Linda Pasquini and Veronica Snoj in Gdansk with contributions from Frankfurt, Duesseldorf and Munich; Editing by Tomasz Janowski, Emelia Sithole-Matarise, Jan Harvey and Barbara Lewis