Condor bidders line up

It is being reported that at least three different bidding groups including private equity firm Apollo are bidders for Thomas Cook’s German airline Condor, reports Germany’s Wirtschaftswoche. Condor secured a government-backed €380 million bridging loan to avoid insolvency following the collapse of parent company Thomas Cook. Apollo, which already owns Volotea, is exploring partnerships with German travel operators DER Touristik and Schauinsland Reisen for Condor. Binding offers will be submitted before Christmas, Wirtschaftswoche said.