Germany mulls emergency aid for Thomas Cook’s Condor
German authorities are considering emergency financial aid for Thomas Cook Group's Condor subsidiary as Lufthansa remains tight-lipped on the fate of a unit it bid for earlier this year. Germany’s Economy Ministry said Monday it’s urgently assessing Condor’s request for a bridge loan after Thomas Cook collapsed under a pile of debt. The state of Hesse, where Condor’s base at Frankfurt Airport is located, is ready to help with a loan guarantee and is already in talks with the airline and the federal govt, premier Volker Bouffier said. The federal govt in 2017 made a similar loan to Air Berlin to keep the airline flying while Lufthansa considered taking it over. The EC may also have to sign off on potential aid, a govt spokesman said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-09-24/unaligned/germany-mulls-emergency-aid-for-thomas-cook2019s-condor
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Germany mulls emergency aid for Thomas Cook’s Condor
German authorities are considering emergency financial aid for Thomas Cook Group's Condor subsidiary as Lufthansa remains tight-lipped on the fate of a unit it bid for earlier this year. Germany’s Economy Ministry said Monday it’s urgently assessing Condor’s request for a bridge loan after Thomas Cook collapsed under a pile of debt. The state of Hesse, where Condor’s base at Frankfurt Airport is located, is ready to help with a loan guarantee and is already in talks with the airline and the federal govt, premier Volker Bouffier said. The federal govt in 2017 made a similar loan to Air Berlin to keep the airline flying while Lufthansa considered taking it over. The EC may also have to sign off on potential aid, a govt spokesman said. <br/>