Condor

Hudson · 24 Sep 19, 09:18 PM

Apparently, Condor airlines which was part of Thomas Cook but based in Germany was saved by a 380 million euro bridging loan from the German government.

myaquarium · 25 Sep 19, 06:59 AM

Just heard of this as well. Apparently condor airlines were a profitable part of the group.
Not sure if our government could of saved the airline section of the uk element of Thomas cook with a cash injection.

**marlouwrig** · 25 Sep 19, 07:44 AM

I'm confused😕. I've seen posted on here and elsewhere that it's against EU rules to prop up failing organisations in this way. If this is the case how has Ms Merkel got away with it? Or have I totally misunderstood?

**BevS97** · 25 Sep 19, 07:59 AM

2 links

This says they can give aid but have to ask for EU approval. It also says Germany and France routinely offer more aid than the UK
bbc/news/uk-politics-41392469

This says they have asked for EU approval

ft/content/8bddf144-...2-9624ec9edc59

**marlouwrig** · 25 Sep 19, 08:55 AM

Originally Posted by BevS97

2 links

This says they can give aid but have to ask for EU approval. It also says Germany and France routinely offer more aid than the UK
bbc/news/uk-politics-41392469

This says they have asked for EU approval

ft/content/8bddf144-...2-9624ec9edc59

Interesting. Thank you 😀

duchy · 26 Sep 19, 10:27 AM

My friend showed up for her Condor flight this morning to be told all flights were suspended til the 26th so she went from lost her flight to thinking she'd be fine to losing it again.
Gutted for her.

Hudson · 26 Sep 19, 05:19 PM

There is talk that the Thomas Cook board gave Condor approximately �60 million on the weekend of the collapse.

RickT · 26 Sep 19, 06:44 PM

Rumour is from various posts online is that condor are in talks for purchasing / taking over some of the the Gatwick routes with possibly using the Thomas Cook brand in the future, plus other UK based routes... , so in other words, write off one arm of a company and then use your other brand to backfill it with a fresh balance sheet...

anneeb · 26 Sep 19, 08:01 PM

I believe that they hoped to get through the weekend and by the new year have the airline separate with very little debt. My understanding is that they had most of the money that the banks wanted.

bighal · 28 Sep 19, 02:54 PM

Originally Posted by RickT

Rumour is from various posts online is that condor are in talks for purchasing / taking over some of the the Gatwick routes with possibly using the Thomas Cook brand in the future, plus other UK based routes... , so in other words, write off one arm of a company and then use your other brand to backfill it with a fresh balance sheet...

And not true. Condor will have to pay, like any one else who is interested in the Gatwick slots, the market rates and hope to be the highest bidder with all monies going to the official receiver unless Gatwick's slot allocator takes them back and then it will be a free for all to get them.

24 Sep 19, 09:18 PM	#1
	24 Sep 19, 09:18 PM Hudson Imagineer
Hudson Imagineer Join Date: Aug 08 Location: Haydock	Condor Apparently, Condor airlines which was part of Thomas Cook but based in Germany was saved by a 380 million euro bridging loan from the German government.

26 Sep 19, 10:27 AM	#6
	26 Sep 19, 10:27 AM duchy Imagineer
duchy Imagineer Join Date: May 04 Location: Kent	My friend showed up for her Condor flight this morning to be told all flights were suspended til the 26th so she went from lost her flight to thinking she'd be fine to losing it again. Gutted for her.

26 Sep 19, 05:19 PM	#7
	26 Sep 19, 05:19 PM Hudson Imagineer Thread Starter
Hudson Thread Starter Imagineer Join Date: Aug 08 Location: Haydock	There is talk that the Thomas Cook board gave Condor approximately �60 million on the weekend of the collapse.

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