Mother company Thomas Cook is broke. And Condor? Many german holidaymakers are currently asking themselves this question. Am I still coming back to Germany? Condor has just published an official announcement. And now there is also the official confirmation that Berlin should help with money. Will this be the case? Here is the original wording:
Condor flights will continue to be operated although the parent company Thomas Cook Group plc has filed for bankruptcy. Germany’s most popular holiday airline has been profitable for many years and brings over eight million guests per year to over 100 destinations worldwide. “Condor has been specialising in holiday flights for over 60 years and is the first choice for guests flying on holiday. This is due to a wide range of destinations, a good product at an attractive price and an outstanding sales network in the tourism sector,” says Ralf Teckentrup, Chairman of the Management Board. “We will continue to concentrate on what we do best: To fly our guests punctually and safely to their holidays”.
The former parent company Thomas Cook Group plc had to file for insolvency on 23rd of 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 bottlenecks at Condor, a state-guaranteed bridging loan was applied for. This is currently being examined by the Federal Government of Germany.