newstodate.aero
Sep 25, 2019 (newstodate): One airline has succeeded in freeing itself from the bankruptcy of its former mother company - the German charter carrier Condor.
In a last-minute move, Condor gained independence from Thomas Cook Group, but in dire need of cash to sustain operations.
Now, the German government has promised to step in with a bridge loan allowing the carrier time to find new investors to sustain continued operations - provided the EU grants the capital injection.
With a fleet of 53 aircraft, Condor was the largest of five airlines in the Thomas Cook Group.
Speculations are that Lufthansa that formerly owned Condor may consider re-investing in Condor.
In a last-minute move, Condor gained independence from Thomas Cook Group, but in dire need of cash to sustain operations.
Now, the German government has promised to step in with a bridge loan allowing the carrier time to find new investors to sustain continued operations - provided the EU grants the capital injection.
With a fleet of 53 aircraft, Condor was the largest of five airlines in the Thomas Cook Group.
Speculations are that Lufthansa that formerly owned Condor may consider re-investing in Condor.