German-based Condor Airlines, which had been a subsidiary of Thomas Cook, before the British tour operator went under late last year, has a new owner, Poland’s LOT airline, and will continue its career as a leisure carrier.
After the Thomas Cook collapse, Condor, which had been a profitable piece of the empire, was able to keep operating with bridge financing from the German government. Once the deal with LOT closes, the loans will be repaid.
Condor’s nearly-60 planes and 4,900 employees will continue to operate under the Condor name as a separate company under LOT’s ownership.
