Condor is looking for a new investor so that the flight provider can become more independent from the parent company. Ralf Teckentrup is surprisingly positive and expects quick results. With this project in mind, Condor’s CEO aims to retain the airline as we know it. Condor’s top management says that the company’s insolvency makes no sense. \u201cI see no reason why this profitable airline should not fly on. Condor will emerge stronger from the crisis,\u201d Teckentrup comments.<\/p>\n
In September, the parent company Thomas Cook filed for insolvency, which caused Condor to struggle with various hurdles. However, with 58 aircraft and about 4900 employees, the tour operator cooperates with various other tour operators. Condor was able to break away from the British group through a protective shield procedure and is now looking for new investors. \u201cThe most important thing for us and our customers is that all tickets are secure – both for the winter season with the bridging loan and for the summer season from 1 April 2020, for which the booking income is managed in a trust account for maximum security for our customers.\u201d<\/p>\n
\u201cCondor is a real investment opportunity. With simple and manageable investments, you could quickly achieve better results,\u201d says Teckentrup proudly. New energy-efficient aircraft are to be added to the fleet in order to create an opportunity for new investors. In order to finance this, the money that has always been invested in the British company will be used.<\/p>\n
Condor is ideally placed to replace most of the 16 long-haul aircraft over the next five years, thanks to the staggered lease terms and contact with trusted manufacturers.<\/p>\n
Teckentrup mentions, that the airline group increased its operating profit before interest and taxes in 2018\/2019. Furthermore, Teckentrup explains, \u201cLong-haul tourism is an absolute specialty business in which everyone but us is making a loss. Our company possesses technology and a unique knowledge of the various distribution channels. We can play the entire keyboard from the single ticket available worldwide to the event business.\u201d<\/p>\n
The investor process organised by the Rothschild private bank will be transparent. Furthermore, Teckentrup explains, \u201cThere have been significantly more interested parties than I had expected. These are companies that operate their own airlines, financial investors and finally touristic tour operators”. The decisive decision is ultimately taken by the creditors’ committee. \u201cThe decisive criteria are then the purchase price, the preservation of jobs and the future viability of the concept.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Ralf Teckentrup promotes the investment opportunity Condor is looking for a new investor so that the flight provider can become more independent from the parent company. Ralf Teckentrup is surprisingly positive and expects quick results. With this project in mind, Condor’s CEO aims to retain the airline as we know it. Condor’s top management says<\/p>\n","protected":false},"author":2,"featured_media":2298,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"tags":[],"class_list":{"0":"post-2297","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-supply-chain"},"yoast_head":"\n