It could be broken up or sold as a whole - it will have a season of contracted holiday flying for next summer which allows time for re-structuring and is profitable.
It is timely especially if any shuffling of shareholding needs to be done in the event of a hard Brexit.
LH might be interested in re-acquiring Condor. VS might go for long haul or all of the UK airline to allow it to restructure as UK airline. Easy could go for the short haul as could Jet2. I somehow doubt Ryanair or IAG would go for it - doesn't fit either structurally or business model - costs too high for FR I would have thought. I have no idea about Scandinavia or Spain. Gatwick slots could be sold with Thomas Cook using other operators for Gatwick. IAG,Jet2 or Easy would go for those.
TCX in worst case scenario would get rid of most of their fleet and just buy seats on other airlines
. Think you mean Thomas Cook not TCX .