The coronavirus crisis has dealt a massive blow to the entire aviation sector. Nonetheless, it seems near impossible that Deutsche Lufthansa AG (DLAKF;DLAKY) will not be saved. The company centered around Germany's namesake flag carrier is far too important to let it go bust. From a shareholder's perspective, however, the impact may still be massive. How massive depends on how exactly the airline will be bailed out.
There are different scenarios. The German government might provide capital in exchange for a substantial voting and/or non-voting equity stake in the company. There