All Condor flights are continuing as planned despite the collapse of the airline’s parent company, Thomas Cook Group Plc. Currently, approximately 240,000 guests are traveling abroad with Condor, the German airline said. It operates a fleet of 58 aircraft, including from Condor, Thomas Cook Aviation and Thomas Cook Balearics.
As reported early Monday, Condor has applied for a government-backed bridging loan in order to prevent possible liquidity shortages. The loan is currently being examined by Germany’s Federal Government. The state government of Hesse has promised its support.
Due to the insolvency, Condor is no longer allowed to accept customers from the group’s tour operators – Thomas Cook, Neckermann, Oeger Tours, Air Marin and Bucher Reisen – on flights to their vacation destinations. Thomas Cook vacation package guests can take their return flights as planned. Condor said that those affected should contact the tour operators directly, and they will be informed directly by Thomas Cook.
Ticket sales for flights with continue are continuing, although the airline is advising customers to purchase travel cancellation insurance at the time of booking.
Finally, in its latest update Condor said that it is a profitable company, reporting that it generated operating earnings (EBIT) of approximately 43 million Euros for the 2017 – 18 fiscal year, and that earnings are expected to increase for the 2018 – 2019 fiscal year, which ends September 30. Additionally, Condor Flugdienst GmbH generated sales of around 1.8 billion Euros during the 2017 – 2018 fiscal year.
Ralf Teckentrup, chairman of the Management Board, said that the positive results distinguish the airline from other cases, such as Air Berlin and Germania. Air Berlin was forced to cease operations in 2017, while Germania filed for insolvency earlier this year.
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