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Lufthansa to seek approval for possible capital increase at AGM

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FILE PHOTO: Lufthansa planes are seen parked on the tarmac of Frankfurt Airport, Germany
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FRANKFURT (Reuters) - Lufthansa said on Thursday it would seek approval for a possible capital increase of up to 5.5 billion euros at its annual general meeting in May.

The German air carrier said any proceeds of any capital increase would be mainly used to repay Germany's Economic Stabilization Fund (WSF), which bailed out the airline last year when the coronavirus pandemic halted global travel.

Lufthansa shares ended 3% lower on Thursday, the worst performer of Germany's MDAX mid-cap index.

(Reporting by Klaus Lauer; writing by Tom Sims; editing by Chris Reese)