The bailed-out German carrier announced on Tuesday in a note to shareholders that it is offering bonds due in 2025 with a value of up to 600 million euros (709 million dollars).

Lufthansa had originally hoped to raise around 525 million euros with the offer, but changed the conditions within hours of the first announcement “due to high demand.”

The improved terms for investors come in the wake of promising data for a 90-per-cent effective Covid-19 vaccine developed by German firm BioNTech and US pharma giant Pfizer. The companies’ Monday announcement boosted stock market confidence and raised hopes of a return to normality.

Lufthansa’s bonds are being offered with a coupon of between 2.0 and 2.5 per cent per year, payable semi-annually in arrears, a new statement said, updating the previous offer of up to 2.75 per cent.

The price at which debtors can convert their securities into shares in 2025 if the bond is not repaid was also raised.

The experimental vaccine announcement is far from the end of Lufthansa and the broader aviation industry’s woes.

As a second wave of coronavirus infections across Europe threatens further restrictions, Lufthansa’s losses grew in the third quarter to almost 2 billion euros.

The Frankfurt-based airline’s operating cash drain also accelerated further and is now to be limited to a maximum of 350 million euros per month.

According to its latest statements, Lufthansa Group has 10.1 billion euros at its disposal in liquid funds. Of this, 6.3 billion euros comes from state aid from the governments of Germany, Austria, Switzerland and Belgium.

The joint bailout amounts to more than 9 billion euros in total.