For all of you not speaking German, I've enclosed a Reuters news update from yesterday evening.
To Pinamar: Yes you are right, all large US carriers were financially unstable, to say the least, before sept. 11th.
FRANKFURT, Dec 10 (Reuters) - German Chancellor Gerhard Schroeder said on Monday that national airline Lufthansa AG would not have to pay premiums for the
government-backed aviation insurance scheme running since the September 11 hijacked plane attacks on the United States.
Speaking at a meeting of the German airline's staff in
Frankfurt, Schroeder said that as far as he was aware other European governments were also paying the premiums for their airlines under the European Union-approved scheme to provide adequate third party liability war risk cover.
Lufthansa shares were steady on the news, trading 1.93 percent higher at 15.86 euros by 1736 GMT and leading gainers on the blue-chip DAX index, which fell 1.4 percent.
EU governments agreed to guarantee cover for the aviation sector after commercial underwriters effectively withdrew third party liability aviation insurance for acts of war and terrorism following the U.S. attacks.
Airlines had already been allowed to defer premium payments for the state-backed coverage until European Union rules were agreed on.
The current state coverage runs out in January but can be extended to the end of March.
Schroeder said government ministers would meet with insurers and Lufthansa representatives again before Christmas to discuss coverage after the state guarantees end, and said he would push for commercial insurers not to increase their rates as planned.
Separately, Schroeder said the airline industry was one of the worst affected by the attacks and said it would be unfair if Lufthansa had to make up for that on its own.
However, the chancellor made no mention of the 180 million euros ($160 million) in compensation the airline is seeking for the month of September as a result of the attacks.
I know it's only VfB but I like it!