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Condor to Exit German Protective Shield Proceedings as Healthy Company in November

Frankfurt, October 2, 2020 - Germany's leading leisure airline, Condor Airlines, is pleased to announce that it will successfully conclude the German protective shield proceedings as a healthy company in November 2020. The protective shield proceedings allowed Condor to gain legal independence after the compulsory liquidation of its former parent company, the Thomas Cook Group plc, in September 2019.

The U.S. is and will be one of Condor's most important markets. In order to ensure that the German protective shield proceedings and their conclusion are recognized in the U.S. as well, American law provides the filing of a petition under Chapter 15. Condor filed this petition today, following the standard protocol at the conclusion of a successful restructuring, such as Condor successfully went through in the past 12 months to set the company up for a future without Thomas Cook. Chapter 15 makes the provisions of the German restructuring proceedings and their conclusion binding in the U.S. as well and clears the way for Condor to be a healthy company as of November in all its markets.

Once current travel warnings and restrictions from the U.S. to Europe have been lifted, Condor looks forward to returning to the U.S. with award-winning, affordable non-stop service from underserved gateways across the country to Frankfurt and beyond.

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