Condor 767

Condor has actually been looking for a buyer for the previous several months, and it looks like they’ve found one. As far as I’m concerned, this offer is just about the very best case situation for customers.

Why Condor has actually been looking for a purchaser

In September 2019, Thomas Cook ceased operations Thomas Cook was one of the world’s oldest travel companies, and they were more than just an airline, as their primary company was offering plan holidays.

Thomas Cook also owned Germany’s Condor Airlines, which was really profitable. So it sure would have been sad to see Condor fail due to the Thomas Cook moms and dad company, when the airline was generating income.

Germany granted Condor a swing loan, that made a great deal of sense, given that this was a situation where an airline company really only required a few months to get things in order, and almost 5,000 jobs were at stake.

LOT Polish Airlines buys Condor

It has just been revealed that Polish Air Travel Group (PGL), the moms and dad company of LOT Polish Airlines, will be obtaining Condor Airlines The deal is anticipated to close in April 2020 when antitrust approvals are gotten. With this deal, PGL will pay back the swing loan from Germany in full.

LOT Polish 787

As it’s explained, this develops among the “leading European aviation groups with Germany and Poland as core markets.”

It’s stated that Condor will become the center of PGL’s leisure method with a focus on growth in Germany and nearby markets.

Moving forward, Condor will continue to run under the current brand name, with the exact same management group, and with the very same service as they currently provide.

Condor 767

The president of the board of PGL, Rafał Milczarski, had the following to state:

” The acquisition of Condor fits completely into PGL’s technique. It also secures the future of Condor and provides stability and fantastic chances to its staff members, clients and company partners. We want to establish Condor’s iconic brand name in Germany and likewise introduce it to other markets in Europe. We completely invite all Condor workers to the PGL family and welcome them to build together among the best air travel groups in Europe.”

The CEO of Condor, Ralf Teckentrup, had the following to state:

” We are pleased that Condor, Germany’s most popular leisure airline company, has actually gotten in PGL and LOT stable, knowledgeable and dynamically establishing partners who secure the future of our company. Together we will serve twice as lots of travelers, thus forming among the largest aviation groups and the leading leisure airline company group in Europe. Our partners and clients can safely prepare their vacation flights with Condor.”

What will Condor’s future actually appear like?

When considering LOT taking control of Condor, I think there are a few things that right away enter your mind:

  • LOT Polish constantly has an aircraft scarcity as they continue to grow, and they’re presently leasing a few Air Belgium A340 s
  • What will occur with the future of Condor’s long run fleet, as they currently fly out-of-date 767 s, and certainly will eventually need to change them?
  • Will we see Condor move any long run paths from Germany to Poland?

LOT Polish is leasing Air Belgium A340 s to support development

Not all of these concerns are answered in the press release, though I get the sense that it will overwhelmingly be service as usual for both business:

  • I doubt LOT will desire any of Condor’s 767 s, given the configurations
  • I doubt Condor will be getting any LOT 787 s, considered that the airline does not have enough aircrafts to run their own network as is
  • Condor has an unique path network that works for them, and I doubt they’ll change that much; simply put, I question that the Frankfurt to Whitehorse flight will now run out of Warsaw instead

Condor 767 in Whitehorse

What I do think we might see is:

  • More connection in between Polish cities and Frankfurt/Munich, where most Condor long run flights run out of
  • Possibly long term we might see Condor include some leisure long haul paths out of Warsaw

Bottom line

I ‘d think about LOT’s takeover of Condor to more or less be the best case situation.

The big question– despite ownership structure– will be what Condor’s long term strategy is for fleet renewal.

What do you make from LOT’s takeover of Condor?

Ben (Lucky)

About Ben (Lucky)

Ben Schlappig (aka Lucky) is a travel consultant, blogger, and avid points collector.
He takes a trip about 400,000 miles a year, mainly using miles and points to enhance his very first class experiences.
He chronicles his experiences, along with market news, here at One Mile at a Time.

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