Condor flights will continue its flight operations despite the fact that its parent company Thomas Cook Group has filed for insolvency.
Thomas Cook Group plc, the previous parent company, had to file for insolvency on 23 September 2019. Despite intensive efforts, the Group was unable to obtain refinancing from Fosun, banks and creditors. Condor continues to operate as a German company. In order to prevent liquidity constraints Condor has applied for a state-guaranteed bridging loan, which is currently under review by the Federal Government.
Germany’s most popular leisure airline has been profitable for many years and brings over eight million guests annually to over 100 destinations worldwide.
“Condor has specialized in holiday flights for over 60 years and is the first airline of choice for many leisure travelers. The reason for this, besides a large destination network, is an excellent product at an attractive price and an outstanding sales network throughout the travel and tourism industry,” said Ralf Teckentrup, CEO of Condor. “We will continue to concentrate on what we do best: flying our customers to their holidays safely and on time.”
However Bloomberg is reporting Germany is considering a bridge loan to Condor.
Lufthansa meanwhile remains silent on its previous bid for Condor.
