- Title: Berlin to decide on loan for Thomas Cook's Condor within next days - Minister
- Date: 24th September 2019
- Summary: DUESSELDORF, GERMANY (SEPTEMBER 23, 2019) (REUTERS) THOMAS COOK AND CONDOR PLANES VARIOUS OF PASSENGERS BOARDING CONDOR PLANE CONDOR PLANE ON RUNWAY / CONDOR PLANE TAKING OFF FRANKFURT, GERMANY (SEPTEMBER 24, 2019) (REUTERS) PASSENGERS AT CONDOR CHECK-IN CONDOR CHECK-IN SIGN VARIOUS OF PASSENGERS AT CHECK-IN BERLIN, GERMANY (SEPTEMBER 24, 2019) (REUTERS) GERMAN ECONOMY MINISTER PETER ALTMAIER ARRIVING FOR STATEMENT MEDIA (SOUNDBITE) (German) GERMAN ECONOMY MINISTER, PETER ALTMAIER, SAYING: "Firstly it is the case that the difficulties were caused because of the insolvency of the parent company in Great Britain, these are not home-made problems. But I think it is very important that we apply the usual procedure which is why we are in close talks with the Finance Ministry and the Transport Ministry. A few days ago a request was submitted for bridging loans which is being examined under the German budget code and decisions will be made together with the German government. I ask your understanding that I can't say anything else at the moment. (Asked when a decision will be reached) In the next couple of days." FRANKFURT, GERMANY (SEPTEMBER 24, 2019) (REUTERS) VARIOUS OF PASSENGERS AT FRANKFURT AIRPORT VEREINIGUNG COCKPIT PILOT UNION, JANIS SCHMITT (pron.: YANN-is) IN AIRPORT HALL DEPARTURES BOARD VARIOUS OF PASSENGERS AT CONDOR CHECK-IN SCHMITT IN CONVERSATION VARIOUS OF PASSENGERS (SOUNDBITE) (German) VEREINIGUNG COCKPIT PILOT UNION, JANIS SCHMITT, SAYING: "From our point of view, or when you look at the business figures, Condor is a profitable company - when it comes to German company Condor Flugdienst GmbH. The planes are well filled and the passengers don't just come from Thomas Cook - there is also a large proportion of single seat sales and there are other vendors who book their customers on to Condor. As I said, the company is a good company with excellent employees and that makes it worth protecting and ensuring the company continues to exist." PASSENGERS AT CONDOR CHECK-IN (SOUNDBITE) (German) VEREINIGUNG COCKPIT PILOT UNION, JANIS SCHMITT, SAYING: "Lufthansa had registered a lot of interest until recently but then a few months ago the interest was suddenly no longer there and then Thomas Cook no longer wanted to sell Condor - they wanted to sort it out themselves with the Chinese investor and banks. So, as I said, Lufthansa could perhaps be interested but there were recently reports in the media that TUI, a travel company, was interested in Condor - those would of course be two big companies that have the potential to keep Condor going." DUESSELDORF, GERMANY (SEPTEMBER 23, 2019) (REUTERS) VARIOUS OF CONDOR AND THOMAS COOK PLANES
- Embargoed: 8th October 2019 13:28
- Keywords: Thomas Cook bankruptcy insolvency Condor airline German Economy Minister Peter Altmaier
- Location: DUESSELDORF, FRANKFURT + BERLIN, GERMANY
- City: DUESSELDORF, FRANKFURT + BERLIN, GERMANY
- Country: Germany
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA001AY0MZD9
- Aspect Ratio: 16:9
- Story Text: The German government will decide within the next coming days on whether to offer financial support to Condor, the German airline owned by insolvent British travel operator Thomas Cook, German Economy Minister Peter Altmaier said on Tuesday.
"It is very important that we apply the usual procedure," Altmaier told journalists in Berlin, adding that a request Condor has filed for a bridging loan is currently being examined by the German government.
Condor's problems are not home-made but caused by its parent, the minister added.
The British government opted against bailing out Thomas Cook as it would have been a waste of taxpayers' money to throw good money into a business that was not meeting the needs of its customers, a British minister said earlier on Tuesday.
The German union representing pilots (Vereinigung Cockpit) said they stood behind Condor as a profitable company and hoped it would be saved.
(Production: Max Schwarz, Andy Buerger, Tanya Wood)
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