LOT Polish Airlines buys Condor

epa08158406 Airplane models of German carrier Condor and Polish carrier LOT are pictured during a joint press conference in Frankfurt Main, Germany, 24 January 2020. Polish carrier LOT is buying the former Thomas Cook subsidiary, German carrier Condor. EPA-EFE/ARMANDO BABANI

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The owner of LOT Polish Airlines has agreed to purchase former Thomas Cook Group subsidiary Condor.

Flight Global reports that the German leisure airline said that the deal with Polish Aviation Group (PGL) secures “our future in the long term”.

“We are pleased that Condor, Germany’s most popular leisure airline, has gained in the PGL and LOT stable, experienced and dynamically developing partners who secure the future of our business,” says Condor chief executive Ralf Teckentrup. “Together we will serve twice as many passengers, thus forming one of the largest aviation groups and the leading leisure airline group in Europe.”

Condor was previously a subsidiary of the UK’s Thomas Cook, which ceased trading in September 2019.

Condor will keep the same management team and branding.

Thomas Cook’s sudden collapse led to the UK’s largest-ever peacetime repatriation process after holidaymakers were left stranded. It had failed to secure a £900 million rescue deal from its largest shareholder, China’s Fosun, bondholders and banks.

Via Flight Global / Business Traveller

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