The German holiday airline is for sale. And there is greater interest than expected. A decision as to who will take over Condor will be made at the beginning of 2020.
According to Condor Managing Director Ralf Teckentrup, the search for a new owner for Condor, led by the private bank Rothschild, is going well. «There have been significantly more interested parties than I had expected», says Teckentrup.
He explained to the news agency DPA: «These are companies that operate their own airlines, financial investors and finally tour operators.» The creditors’ committee will decide which company will acquire the German holiday airline by the first quarter of 2020, according to the manager.
Teckentrup believes that Condor is a good investment. He has already emphasized that his airline has been consistently profitable for years – with one exception. Now he explained to DPA that in the 2018/19 financial year, which ended at the end of September, the company had increased its operating profit.
In the previous year, the increase had amounted to 43 million euros. With simple and manageable investments you can quickly get more out of it, says Teckentrup. The decisive lever for increasing earnings was the renewal of the ageing long-haul fleet.