Last Friday it was announced that the Polish national airline Lot has its German colleague Condor over. This puts the former part of the bankrupt British tour operator under the flag of the Polish state that owns all of Lot's shares.

“We are delighted that Condor, Germany's most popular leisure airline, has stable, experienced and dynamically developing partners that secure the future of our company. Together we will serve twice as many passengers, making us one of the largest airline groups and the leading leisure airline group in Europe. Our partners and customers can plan their holiday flights safely with Condor, ”said Ralf Teckentrup, Condor's Chief Executive Officer.

The combination of LOT and Condor will create one of the leading European aviation groups with approximately 20 million passengers per year. Condor will continue to operate under its current leadership while benefiting from extensive connectivity and operational synergies between the airlines. Condor customers will continue to benefit from the quality, service and reliability of Condor, making the company the number one brand for holiday travel and the preferred partner for tour operators in Germany and beyond.

The offer to take over Condor submitted by PGL is selected as the most attractive to Condor, its employees, partners, suppliers and customers. The transaction is expected to close by April 2020 once usual antitrust clearances have been obtained and Condor is leaving the protective shield procedure. Thanks to PGL's investment, Condor is able to repay the loan received from KfW in full.

Also read: British Airways and Iberia acquires Spanish Air Europe

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