German travel companies considering minority stakes in Condor
Will customers save the German Thomas Cook subsidiary?
After the bankruptcy of its parent company Thomas Cook, the German airline Condor is looking for one or more new owners. Some travel companies are apparently thinking about a possible investment. «I can’t imagine a complete takeover of Condor,» says Ingo Burmester, head of Central Europe at DER Touristik, to news agency DPA. «However, I would not rule out a shareholding.» Condor is reliable, popular with customers, and at the moment «There are increasing bookings for summer and winter on Condor flights.»
The managing director of Schauinsland Reisen, Gerald Kassner, was more cautious when approached by aeroTELEGRAPH. He isn’t interested at the moment, he said. His company is already involved in Sundair. However, he also did not completely rule out «rethinking» a minority stake.
Administrator is optimistic
After Thomas Cook’s bankruptcy, managers of German travel agencies had already anonymously told Wirtschaftswoche magazine that they hoped the airline would survive. «If Condor is removed now, all we have left is Tuifly. But it’s so small that we only have a choice between Eurowings and Eurowings, especially on long-haul flights,» explained one of the managers.
Lucas Flöther, the appointed administrator in Condors case, expressed his optimism in an interview with German TV station N-tv: «The first figures we have seen and the first considerations we have shared indicate that Condor is viable in the long term.» According to a press report, the low-cost airline investor Indigo Partners is also interested in Condor.