RoyHudd :
Profits from late 2018 onwards from the German and ~Scandinavian affiliates were never repatriated to TCG. Their books were kept artificially positive as part of the plan to hive off these "companies" on the open market. They ended up cash-rich.
well it looks like it is not that simple after all :
Yesterday Condor received a guarantee from the German government and the Hessian State Government for six-month bridge loan in the amount of 380 million EUR. This is also subject to approval by the European Commission, at which point the loan can be disbursed.
This was done in order to prevent liquidity issues at Condor, resulting from the insolvency of their parent company. [...] Condor as such was profitable, but that doesn’t mean they had the liquidity necessary to operate
source :
https://onemileatatime.com/condor-airlines-future/