Condor airline finds a soft landing

Paul Heymont 2/1/202:00 PM

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.

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