Originally Posted by
gnarlberg
Condor is still flying because they still got money. Managers could see this coming and didn't send as much money of their profit( 43.000.000€) 2018 to Thomas Cook as they years 16 17 etc.... So they have cash on their bankaccount because the CEOs first have to save their own company, then their holding.
So Condor is not bankrupt yet. They are still flying scheduled flights (NOT RESCUE FLIGHTS!).
They applied for a government loan and hope to get it so they can sell Condor and make some money or find a solution outside of Thomas Cook .
Reporting was that they had extended credit to their holding company. If true, that would be gone now.
Also, half of their revenue is with TC package tours, and they were not allowed to take pax on package tours any longer, just those that had booked just the flight. This is going to hit them really fast.
And lastly, eight of their A321 and one A330 are listed as operated by TC Aviation or TC Airlines. What about those?