German government grants Condor €380 million bridging loan

The European Commission has approved a six-month €380 million bridging loan to German carrier Condor – as it emerges from the collapse of the Thomas Cook Group. The disbursement of funds will be paid out to Condor gradually by German state bank KfW.  A statement from Condor said: “The decision supports Condor to continue its business operations and the traditionally weaker winter booking period can be bridged even after the insolvency of Thomas Cook Group.” The decision to approve the temporary €380 million loan to the airline is said to contribute to ensuring the orderly continuation of air transport services