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Flöther Condor

Flöther: Condor restructuring has a chance of succeeding

Flöther Condor

The district court of Frankfurt has opened the main proceedings for the future of Condor. Lucas Flöther, the administrator appointed by the court, confirmed in an appraisal that the intended restructuring in the context of insolvency proceedings has a prospect of success. Flight operations are also to continue unrestricted. After the bankruptcy of the parent company Thomas Cook, the profitable airline Condor received a bridging loan from the state-owned KfW Bank, which now enables the airline to look for new investors. Condor CEO Ralf Teckentrup's goal is to retain the company as a whole with a total of 4,900 employees. "Together with the federal government, we continue to see good prospects that new owners will be able to keep Condor in the air in the long term," explained Hesse's Finance Minister Thomas Schäfer and Economics Minister Tarek Al-Wazir.

 

(dpa, career.aero)

Dec 3, 2019

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