Yahoo Finance Thomas Cook’s Condor requests loan from German government to keep flying
Thomas Cook’s German subsidiary Condor is still flying, after its parent company went bust on Monday, and has submitted a bridging-loan request to the federal government in Berlin to prevent liquidity bottleneck.
Thomas Cook said in a statement on Monday that the group had failed to secure the cash it needed to remain afloat and has entered compulsory liquidation. Some 150,000 British holidaymakers are now stranded abroad.
READ MORE: Thomas Cook is dead and 150,000 UK holidaymakers are stranded
Holiday airline Condor, which became part of the Thomas Cook Group in 2003, announced on Monday morning that it “is continuing operations” despite its parent company going bankrupt.
However, while Condor’s own flights are continuing to take off as planned, it said that for legal reasons it cannot fly Thomas Cook passengers from Thomas Cook, and its other German package-tour companies Neckermann, Öger Tours, Air Marin, and Bucher Reisen.
"We cannot accept you for your flight, for which we are extremely sorry," said Condor on Monday.
READ MORE: What should holidaymakers do now that Thomas Cook has collapsed?
Germany’s powerful trade union Verdi announced its support for Condor and urged the German government to urgently consider the airline’s request for a bridging loan. “Everything must be done now to keep Condor going and safeguard jobs,” said Christine Behle, Verdi’s board member for the transport branch.
"Condor is an important and good brand in the aviation market with extraordinarily committed employees, who have ensured that the airline is still profitable, Behle said. “Politicians must now take responsibility to safeguard Condor and jobs.”
Frankfurt-based Condor has been around since 1955, and carries over 7 million passengers each year.
