Germany to grant rescue liquidity for Condor: Sources

Germany has agreed in principle to support struggling carrier Condor with emergency liquidity after the owner of LOT pulled out of a deal to buy the airline, 2 people close to the matter said Monday. Condor, a former unit of collapsed Thomas Cook, has grounded its fleet and called for state aid. A E380m (US$413.82m) state bridging loan, that allowed the carrier to be rescued last year, is de facto being extended and Germany will offer an additional E200m in liquidity, the sources said. Condor said that talks with the govt were ongoing, while the Economy Ministry declined to comment. No decision on a longer-term capital structure of the group has been taken, the sources said, adding that Germany plans to launch a new sales process for the airline after the coronavirus crisis. <br/>