Frankfurt, 23.09.2019 - Today all flights from Condor took off as planned and brought their guests safely and reliably to their destinations.
"I assure you that we will do everything in our power to ensure that our fleet continues to bring our guests reliably to their worldwide holiday destinations and home again safely as planned as we have for the past 64 years," says Ralf Teckentrup, Chairman of the Management Board.
Currently, we have approximately 240,000 guests travelling abroad with Condor. Condor operates a fleet of 58 aircraft including Thomas Cook Aviation and Thomas Cook Balearics aircraft.
Application for Bridging Loan Made
In order for Condor to avoid short term liquidity challenges, a state-guaranteed bridging loan was applied for. This is currently being examined by the Federal Government. The Federal State Government of Hessen has already promised its support.
Condor is a profitable company. In the 2017/18 financial year, an operating result (EBIT) of approximately 43 million Euros was generated. An increase in earnings is expected for the 2018/19 financial year ending 30 September. Condor Flugdienst GmbH generated sales of around 1.8 billion Euros in the 2017/18 financial year with positive cash flow.
"Condor has generated positive results over the last few years and has proven that we can hold our own and thrive in the market. This distinguishes us from cases such as Air Berlin and Germania. Furthermore, the interest we generated within the market speaks to our attractiveness as an Airline and a business," says Ralf Teckentrup.
Effects of Thomas Cooks 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. Consequently, this has had a serious impact on the operations of the Group's own tour operators; Thomas Cook, Neckermann, Oeger Tours, Air Marin and Bucher Reisen. Condor has been advised that travelers who have booked their future package holidays with these tour operators will no longer be able to travel with the airline. Thomas Cook package holiday guests may take their return flights as planned. Those affected should contact the tour operator in which their package was booked with directly to gain the necessary information provided from Thomas Cook.
Flight Sales Continue
Ticket sales for flights with Condor continue as normal. Customers are advised to take out travel cancellation insurance with their booking.
Every day, 4,900 highly motivated employees work around the clock to bring more than seven million customers a year from eight German airports to over 100 destinations in Europe, Africa and North America to enjoy their unforgettable holidays. This is one of the many reasons why Condor is one of the world's leading holiday airlines. This summer, Condor operated with the best on time performance of any airline in Germany.
"I am overwhelmed by the unwavering support we receive from employees, customers, partners and suppliers. Our employees have gone the extra mile in every sense – from working overtime to coming home early from their own vacations - to offer their support and commitment in these trying times. Such spirit is unique," said Ralf Teckentrup.