Germany's news in English

Editions:  Europe · Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Thomas Cook collapse: Germany's Condor seeks government aid to keep flying

Share this article

Thomas Cook collapse: Germany's Condor seeks government aid to keep flying
A Condor Airbus A330 in Frankfurt in November 2018. Photo: DPA
17:03 CEST+02:00
Condor, the German airline subsidiary of British travel giant Thomas Cook, said Monday it was requesting financial aid from Berlin to help keep it in the air even after its parent company declared bankruptcy.

Underlining that it had been "profitable for many years," the airline added that "to prevent liquidity bottlenecks at Condor, it has applied for a state-guaranteed bridging loan" which is being examined in Berlin.

"We're continuing to concentrate on what we do best: flying our guests safely and punctually to their holidays," said managing director Ralf Teckentrup.

Thomas Cook's German arm told DPA that around 140,000 German tourists are currently on holiday with the travel group and its subsidiaries.

Around 21,000 had been scheduled for departure on Monday and Tuesday, the
company added.

Thomas Cook declared bankruptcy Monday after failing to secure a last-ditch rescue deal worth £200 million (€227 million) from private investors to avert collapse.

Some 600,000 tourists are reportedly stranded worldwide, with the British government hiring planes to fly home some of its roughly 150,000 affected citizens.

The fall of the 178-year-old operator will put around 22,000 people worldwide out of a job.

It has long struggled against fierce online competition, while blaming Brexit uncertainty for a recent drop in bookings.

Graph translated for The Local by Statista.

Condor, founded in 1955, has been part of the group that would later become Thomas Cook since 1997.

The airline carries around eight million passengers per year to more than 100 destinations around the world.

 
Get notified about breaking news on The Local

Share this article

 

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.