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Germany: Lufthansa bids for Thomas Cook’s Condor

By  |  May 7, 2019

Lufthansa will make an offer for Thomas Cook’s German airline Condor with an option to acquire the remaining airlines of the British travel group, reported Reuters.

Lufthansa boss Carsten Spohr added it was unlikely a single buyer could acquire all Thomas Cook airlines due to antitrust regulations and declined to comment on the offer price.

“We decided yesterday in the meeting of the management board to bid for all of Condor with the option to be able to extend this (bid) to all Thomas Cook airlines,” Spohr said on the sidelines of Lufthansa’s annual general meeting in Bonn.

Thomas Cook put its profitable airlines business up for sale in February after profit warnings in 2018 left it needing to raise cash.

The indebted travel group’s airlines business consists of Germany’s Condor, as well as British, Scandinavian, and Spanish operations.

Full Content: Reuters

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