Condor secures government guarantee; Adria Airways next to fall

Yesterday, Condor Flugdienst received a guarantee from the German government and the Hessian State Government for a six-month €380 million bridging loan by German Development Loan Corporation KfW. This loan cannot be dispersed until it has been approved by the European Commission. The date for the decision is still to be confirmed. Condor is dependent on the bridging loan to prevent possible liquidity bottlenecks at Condor, resulting from the insolvency of its former British parent company, Thomas Cook Group plc. “4,900 Condor employees, partners, suppliers and customers thank the German Government and the Hessian State Government for this decision,” said