VIENNA (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.
(Reporting by Alexandra Schwarz-Goerlich; writing by Francois Murphy; editing by Thomas Seythal)
