Berlin pledges loan to Thomas Cook’s German subsidiary
The German govt has pledged to offer the Thomas Cook subsidiary Condor a 6-month bridging loan of E380m, subject to the approval of the EC. Condor’s parent company, the Thomas Cook Group, went into compulsory liquidation Monday after the British govt declined to add GBP150m to a potential rescue package, attracting criticism from opposition parties. In Berlin, economics minister Peter Altmaier stressed that “the problems of Condor in Germany are not homemade”, and that the travel firm was an independently profitable business. He added that the decision to inject liquidity into the 64-year-old company, subject to the EU finding no contravention of rules against state aid, was not a political one. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-09-25/unaligned/berlin-pledges-loan-to-thomas-cook2019s-german-subsidiary
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Berlin pledges loan to Thomas Cook’s German subsidiary
The German govt has pledged to offer the Thomas Cook subsidiary Condor a 6-month bridging loan of E380m, subject to the approval of the EC. Condor’s parent company, the Thomas Cook Group, went into compulsory liquidation Monday after the British govt declined to add GBP150m to a potential rescue package, attracting criticism from opposition parties. In Berlin, economics minister Peter Altmaier stressed that “the problems of Condor in Germany are not homemade”, and that the travel firm was an independently profitable business. He added that the decision to inject liquidity into the 64-year-old company, subject to the EU finding no contravention of rules against state aid, was not a political one. <br/>
