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Lufthansa confirms in talks with Berlin on $10 bn rescue

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Lufthansa on Thursday confirmed it was in talks with the German government over a nine-billion-euro ($10 billion) rescue that will see Berlin take a massive stake in the coronavirus-stricken airline.

“The concept, which has not yet been finalised, provides for stabilisation measures in the amount of up to nine billion euros, of which three billion euros is in the form of a loan” from public investment bank KfW, the German aviation giant said in a statement.

Under the plans mooted with the federal government’s economic stabilisation fund (WSF), launched to cushion the impact of the virus pandemic, the WSF would acquire a stake of 20 percent in the airline group, as well as a convertible bond worth “a further five percent plus one share” in the company.

The bond “can be exchanged… in the event of a public takeover offer by a third party,” giving Berlin a blocking minority.

If agreed, the solution would close weeks of wrangling over Lufthansa between Chancellor Angela Merkel’s CDU conservatives and their centre-left junior partners the SPD.

Pro-business politicians among Merkel’s ranks have long rejected excessive state involvement in Lufthansa, saying business decisions should be left up to managers.

But the SPD has held out for a bigger stake that would allow Berlin to influence bosses over potential job cuts or environmental targets.

Some of the centre-left’s goals will be met with two state-appointed seats on the Lufthansa supervisory board, as well as “expected conditions” specifying “the waiver of future dividend payments and restrictions on management remuneration”.

Business daily Handelsblatt had earlier reported that the people nominated to the board posts would “not be politicians or civil servants”, but rather businesspeople in a similar model to pan-European aircraft maker Airbus.

Lufthansa said that an extraordinary shareholder meeting would have to decide on the required capital increase, which would dilute the value of existing shareholders’ stakes.

In its role as competition watchdog, the European Commission must also give its blessing to the rescue before it can go ahead.

Million euros an hour

Economy Minister Peter Altmaier said earlier in May that Lufthansa was part of Germany’s “family silver” and that Berlin aimed to avoid a “fire sale” of valuable firms.

If plans go ahead, it would be the first time the government has held a stake in the former flag carrier since 1997.

But around 700 of Lufthansa’s 760 aircraft are currently parked at airports and more than 80,000 of its 130,000 staff are on part-time work schemes.

In April, the group was carrying fewer than 3,000 passengers daily compared with a pre-pandemic average of around 350,000 a day.

Chief executive Carsten Spohr has said Lufthansa — which also includes subsidiaries Austrian and Brussels Airlines, Eurowings and Swiss — is bleeding “about a million euros in liquidity reserves per hour. Day and night. Week by week.”

The group’s woes did not prevent the SPD attempting to play hardball in talks to try to secure influence.

“The state is not some idiot that will just hand over money and have no say after that,” SPD deputy Carsten Schneider told the daily Die Welt earlier this month.

But bosses responded by warning that without state aid they could declare insolvency to benefit from a grace period during which they could try to sort out Lufthansa’s finances.

Such a step could mean painful job cuts, especially as Spohr has said there are now 10,000 too many staff given the state of Lufthansa’s operations.

Reporting and photo: AFP

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Barcelo Nasandhura Malé to open in Q1 2025

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Barcelo Nasandhura Malé, the Maldives’ newest luxury destination, is set to open its doors in Q1 2025.

Located on the site of the former Nasandhura Palace Hotel, the property will become the largest hotel in the capital, Malé. With 136 elegantly designed rooms, including 95 with stunning ocean views, and 116 luxurious serviced apartments, Barcelo Nasandhura Malé promises a unique blend of sophistication, comfort, and convenience in the heart of this vibrant city.

Operated by the renowned Spanish hotel chain Barcelo Group, the hotel represents a significant expansion of the brand’s presence in the Maldives and beyond. Barcelo Group, known for its exceptional resorts, recently opened Barcelo Whale Lagoon Maldives in South Ari Atoll in August 2024, further solidifying its growing portfolio in the region. In addition to its Maldivian properties, Barcelo Group manages a range of high-profile hotels across the UAE, Thailand, and several European countries.

Barcelo Nasandhura Malé will feature an array of premium facilities, including four upscale dining outlets, a rooftop shisha bar, an oceanfront pool, a state-of-the-art gym, and a luxurious spa. The hotel will also boast 1,034 square meters of versatile MICE (Meetings, Incentives, Conferences, and Exhibitions) space, making it an ideal venue for corporate events and gatherings.

While some serviced apartments were initially intended for residential use, they will now be available for daily rental, offering guests enhanced flexibility and a wider range of accommodation options. Originally scheduled to open on December 1, 2024, the opening has been slightly delayed due to minor construction work. However, the team remains committed to ensuring Barcelo Nasandhura Malé is ready to welcome its first guests in Q1 2025.

Barcelo Hotel Group, awarded World’s Leading Hotel Management Company 2023 by the World Travel Awards, is the second-largest hotel chain in Spain and ranks among the 30 largest globally in terms of the number of rooms. Founded in 1931, this family-run organisation operates 280 four- and five-star city and holiday hotels, offering more than 62,000 rooms across 25 countries. The group markets its hotels under four distinct brands, each focused on providing diverse and memorable travel experiences.

Renowned for its commitment to excellence and sustainability, Barcelo Hotel Group delivers exceptional stays, seamlessly blending luxury, comfort, and environmental responsibility.

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Denise Hoefer brings world-class Padel to The Nautilus Maldives

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As part of its ‘Masters for Masters’ series, The Nautilus Maldives will host Denise Hoefer, Germany’s No. 1 padel player and one of the world’s top 50 most influential figures in the padel industry, for an exclusive Padel Masterclass from March 22 to 25, 2025. This exceptional event invites guests to enhance their padel skills under the expert guidance of a global champion, all set against the stunning backdrop of the Maldives’ Indian Ocean.

Padel, recognised as the world’s fastest-growing sport, has captured the hearts of 30 million enthusiasts globally, according to the International Padel Federation. This March, The Nautilus will provide a unique opportunity for guests to immerse themselves in this thrilling game during a four-day Padel Masterclass led by Denise Hoefer, Germany’s top-ranked female padel player and captain of the German national team. Participants will refine their techniques on The Nautilus’s state-of-the-art padel court, while experiencing the island’s signature blend of world-class coaching and timeless, unscripted hospitality.

The Padel Masterclass will feature a tailored mix of group and private sessions, catering to players of all levels. Younger participants will have the chance to join the Young Wonderers program, offering specially designed classes that introduce the sport in a fun and engaging way. After an energising day on the court, guests can unwind at Solasta Spa, where exclusive treatments by Maison Caulières—such as Spinal Connection Deep Tissue Healing, Volcanic Stone Therapy, and Warm Poultices—promise ultimate relaxation and rejuvenation. These tranquil spa experiences provide a perfect complement to the day’s dynamic activities, leaving participants refreshed and revitalised.

With just 26 ultra-luxury houses and residences, The Nautilus offers an intimate sanctuary within the Baa Atoll, a UNESCO Biosphere Reserve. Surrounded by powder-soft white sands, vibrant coral reefs, and crystal-clear waters, this private island retreat redefines bespoke hospitality. Every element is meticulously crafted to inspire, offering guests an unparalleled ultra-luxury experience focused on relaxation, renewal, and discovery. Whether honing padel skills or embracing the serenity of island life, The Nautilus stands as the ultimate destination for discerning travellers.

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BBM, Lifebuoy empowers hygiene practices among Maldivian children

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BBM, in collaboration with Lifebuoy, marked Global Handwashing Day 2024 with engaging activities aimed at instilling the habit of proper hand hygiene among Maldivian school children. Held on November 17th, the event continued the successful “H for Handwashing” campaign, blending education with creativity and fun.

The initiative featured info sessions, exciting games, and creative contests designed to teach children the importance of handwashing while giving them a hands-on understanding of the correct techniques. Activities ranged from reimagined board games like “Germs & Ladders” and “Handwashing Ludo” to interactive sessions that reinforced hygiene habits in an enjoyable way.

This campaign underscores BBM’s commitment to fostering healthier practices among the younger generation, contributing to a healthier and more hygienic Maldives. COO of BBM, A.V.S. Subrahmanyam, emphasised, “At BBM, we believe that empowering the next generation with the knowledge and tools for better hygiene practices is vital for building a resilient and healthy community. We are proud to continue our efforts in collaboration with partners like Lifebuoy.”

Adding to this, Muksith Hussain, Head of Retail Sales at BBM, shared, “Reaching children through such innovative initiatives helps us lay the foundation for a healthier tomorrow. We are thrilled to see the enthusiasm and participation of these young minds in learning the importance of hygiene.”

The event also saw valuable support from the Maldivian Red Crescent (MRC), whose contributions enriched the experience for the children. BBM expressed gratitude for MRC’s involvement, as their efforts played a key role in making the event impactful and memorable.

Through campaigns like this, BBM aims to nurture a lifelong habit of handwashing, creating a brighter and healthier future for the Maldives.

Let’s keep the spirit alive—join the Handwashing Revolution with BBM and Lifebuoy!

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