September 17, 2021

Berlin to decide on loan for Thomas Cook’s Condor within next days: Minister


Passengers are seen after Thomas Cook, the world’s oldest travel firm collapsed, at Jerez de la Frontera Airport, Spain September 23, 2019. REUTERS/Jon Nazca

BERLIN (Reuters) – The German government will decide within the next coming days on whether to offer financial support to Condor, the German airline owned by insolvent British travel operator Thomas Cook (TCG.L), German Economy Minister Peter Altmaier said on Tuesday.

“It is very important that we apply the usual procedure,” Altmaier told journalists in Berlin, adding that a request Condor has filed for a bridging loan is currently being examined by the German government.

Condor’s problems are not home-made but caused by its parent, the minister added.

The British government opted against bailing out Thomas Cook as it would have been a waste of taxpayers’ money to throw good money into a business that was not meeting the needs of its customers, a British minister said earlier on Tuesday.

Reporting by Tassilo Hummel, editing by Riham Alkousaa

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