Frankfurt, September 23, 2019 – Today, all Condor flights continued as planned. Condor took its guests safely and reliably to their destination.
“I assure you that we will do everything in our power to ensure that our fleet continues to bring our guests reliably to their holiday destinations all over the world and back home as usual. Just as our guests have been accustomed to for 64 years,” says Ralf Teckentrup, Chairman of the Management Board.
Currently, around 240,000 guests are travelling abroad with Condor. Condor operates a fleet of 58 aircraft. These include Condor, Thomas Cook Aviation and Thomas Cook Balearics aircraft.
Bridging Loan Applied For
In order to prevent possible liquidity shortages at Condor, a government-backed bridging loan was applied for. This is currently being examined by the Federal Government in Germany. The state government of Hesse has already promised its support. Condor is a profitable company. Operating earnings (EBIT) of around 43 million Euros were generated in the Financial Year 2017/18. An increase in earnings is expected for the Financial Year 2018/19 ending 30 September. Condor Flugdienst GmbH generated sales of around 1.8 billion Euros in the Financial Year 2017/18. The cash flow is positive.
“Condor has achieved positive results over the last few years and has proven that we can maintain an excellent position in the market. This distinguishes us from cases such as Air Berlin and Germania. The interest of other market participants in our company also underlines our attractiveness,” says Ralf Teckentrup.
Thomas Cook: Effects of the Insolvency
The former parent company Thomas Cook Group plc had to file for insolvency early in the morning of 23.09.2019 and discontinued its business operations. This has an impact on the business operations of the Group’s own tour operators Thomas Cook, Neckermann, Oeger Tours, Air Marin and Bucher Reisen. Condor was informed by these tour operators that we are no longer permitted to accept customers on flights to their holiday destinations. Thomas Cook package holiday guests can take their return flights as planned. Those affected should contact the tour operators directly and will be informed directly by Thomas Cook.
Ticket Sales Continue
Ticket sales for flights with Condor are unrestricted. Customers are advised to purchase travel cancellation insurance at the time of booking.
Broad Support
Every day, 4,900 highly motivated employees work around the clock to bring Condors’ more than seven million customers a year from eight departure airports in Germany to over 100 destinations in Europe, Africa and America, giving them an unforgettable holiday. This is one of the reasons why Condor is today one of the world’s leading holiday airlines. This summer, Condor was the most punctual airline in Germany.
“I am overwhelmed by the massive support we receive from employees, customers, partners and suppliers. Employees return from vacation, part-time and standby to offer their services in the current situation. This kind of spirit is unique,” said Ralf Teckentrup.