Lufthansa's CEO Carsten Spohr sought to reassure staff on Monday (June 22).
In a letter, he said the airline was in intense talks with the government and large shareholders with a "clear goal of finding a satisfactory solution before Thursday".
That's when an extraordinary shareholder meeting will be held.
Lufthansa has been hard hit by what is expected to be a protracted travel slump, forcing it to seek a state rescue worth 9 billion euros, or 10 billion dollars.
The bailout requires the support of more than two thirds of shareholders, and that's where things are proving difficult.
Billionaire Heinz Hermann Thiele, who has 15.5% of Lufthansa's shares, objects to the German state taking a 20% stake and seats on its supervisory board.
He'll reportedly meet with the economy minister on Monday to discuss his objections.
The same day saw Finance Minister Olaf Scholz vow to do everything possible to help Lufthansa survive the crisis.
That didn't stop shares sliding in morning trade though.
They were down over 6% in early deals.
The carrier warned last week that a failure to secure shareholder approval for the bailout could force it to apply for protection from creditors under German insolvency law.