The holiday plane Condor flies under new
Owner continues: After months of searching, the airline has
found a buyer. The airline operated by the
Thomas Cook bankruptcy had run into economic difficulties, wants to announce further information this Friday morning. It is about "together" with
The airline said to inform the new owner "about the future of Condor with its approximately 5,000 employees. The name of the buyer was initially not mentioned. According to media reports, the Polish airline LOT is said to be the investor.
were in the bidding process for Condor
three serious prospects have been named: The Polish airline
LOT, the US financial investor Apollo together with German tour operators
and a co-investor as well as the third bidder the British
Investment company Greybull.
Condor has to repay the interim loan by mid-April
the insolvency of the British tour operator Thomas Cook in September Condor had only one state
bridging loan can survive. The federal government and the state of Hesse
gave a loan of 380 million euros to find a buyer
facilitate. This loan must be repaid by mid-April. The
Frankfurt airline had mostly made profits in the past years
and is also an important business partner for German travel companies.
The approximately 5,000 Condor employees recently had cuts
have to accept to make the company more attractive for a buyer.
CEO Ralf Teckentrup's goal was to improve the airline's profit prospects
with cost reductions and improve the company as a whole if possible
to sell. So it was decided about 170 out of 750 jobs in the central
Dismantle Frankfurt administration. Condor also recently signed a restructuring agreement with the Verdi and Ufo unions
agreed, which provided for the deletion of 150 flight attendant positions.