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LOT buys CONDOR

Old 13th Apr 2020, 20:27
  #41 (permalink)  
 
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Originally Posted by safelife View Post
Government’s loan is due the day after tomorrow, so time to come up with a solution.
Probably going to be nationalized, at least temporary.
Yep, but that is just a stopgap. I don't see any interested investor in Condor and the gvmt is going to drop them like a hot potato.
They can only assure survival of the/one national airline.
Condor, as bad as it sounds, is not essential to Germany..
Hope I am wrong but it is what it is.

PS : An integration into LH structure might be a possibility so the gvmt saves an LH integrated Condor.

https://www.welt.de/wirtschaft/artic...ressenten.html
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Old 13th Apr 2020, 20:46
  #42 (permalink)  
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Originally Posted by foxcharliep2 View Post

PS : An integration into LH structure might be a possibility so the gvmt saves an LH integrated Condor.
Integration with LH would seem improbable given the cessation of Germanwings and the scaling back of the rest group.
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Old 14th Apr 2020, 09:41
  #43 (permalink)  
 
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Who will, in these times, book a flight on Condor ? There is too much uncertainty. Although being " a loyal customer " since 1962, I was reluctant on my last trip and booked another airline and another destination for a trip four weeks ago. At hindsight it was a good decision, it saved me some nerve-wrecking days ( and nights ) in Palma. These days, booking flights on any airline, is like playing Russian Roulette, Condor is no exception. Soon there will be the times for adventurers and fortune makers, who will try to gain from the situation.
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Old 14th Apr 2020, 10:13
  #44 (permalink)  
 
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Crazy times and this won't be the last! Good news for staff and for Condor to keep flying though.
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Old 14th Apr 2020, 16:14
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Originally Posted by easyJetCrew View Post
Crazy times and this won't be the last! Good news for staff and for Condor to keep flying though.
According Swiss radio deal is off -
due to some bug or other...

Fingers still crossed however.
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Old 14th Apr 2020, 20:42
  #46 (permalink)  
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report on German ARD 1 st TV channel tonight on future of Condor. From what i understood the current feeling is it will be taken over by a Trust backed up by the Government to access some blocked funds in order to make the debt repayment of 380 M Euros due this week. That should be enough to save the company during the Covid crisis , then when the crisis is over ,a new partner will be looked for...
https://www.tagesschau.de/multimedia...eo-687863.html
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Old 15th Apr 2020, 10:37
  #47 (permalink)  
 
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Hard to imagine who might want to buy them now.
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Old 15th Apr 2020, 10:55
  #48 (permalink)  
 
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Originally Posted by Less Hair View Post
Hard to imagine who might want to buy them now.
Hard to imagine how they are going to survive at all when paying back the 380€ M bridge loan from the trust account and needing another 200€ M loan to do that.
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Old 15th Apr 2020, 11:27
  #49 (permalink)  
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Their main problem is an ancient fleet. A new partner would have to buy them newer aircraft. Maybe they will come more cheaply in the near future?
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Old 15th Apr 2020, 11:54
  #50 (permalink)  
 
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Unfortunately there will be many leases, used aircraft and new aircraft delivery slots available "for cheap" soon. This will be their smallest concern.
What they need is something like a travel group or cruise ship company with package travellers to be moved and money to spend. This will be truly hard to find these days.
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Old 15th Apr 2020, 15:17
  #51 (permalink)  
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Didn't you say there is a big group of wealthy retired people in Germany who want to spend money for their holidays? So that shouldn't be a problem, specially because pension is going up this summer. ;-)
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Old 15th Apr 2020, 17:56
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True. And the retired crowd is still there.
I meant to be speaking about actual companies wanting to buy an airline these days.
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Old 15th Apr 2020, 19:15
  #53 (permalink)  
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Originally Posted by EAM View Post
Didn't you say there is a big group of wealthy retired people in Germany who want to spend money for their holidays? So that shouldn't be a problem, specially because pension is going up this summer. ;-)
Yes plenty of those in Germany , the small problem is that it is the same people that are the most vulnerable in case they get infected and are likely ( like in France) be those who will be locked down the longest., In addition getting stuck sick in another country is not exactly that appealing anymore to that age group. I also do not see Lufthansa , having just reduced significantly their fleet and closed down Germanwings taking them on board with their 25 years old 767s...
That said the Condor name is still a very valuable brand name in Germany and has a marketing value , so who knows.. But Pan Am also did had a very valuable brand name ( still has) and nobody rescued them at the time ..
Feel sorry for Condor staff , have plenty of good friends among them ...
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Old 15th Apr 2020, 20:03
  #54 (permalink)  
 
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Originally Posted by ATC Watcher View Post
Yes plenty of those in Germany , the small problem is that it is the same people that are the most vulnerable in case they get infected and are likely ( like in France) be those who will be locked down the longest., In addition getting stuck sick in another country is not exactly that appealing anymore to that age group. I also do not see Lufthansa , having just reduced significantly their fleet and closed down Germanwings taking them on board with their 25 years old 767s...
That said the Condor name is still a very valuable brand name in Germany and has a marketing value , so who knows.. But Pan Am also did had a very valuable brand name ( still has) and nobody rescued them at the time ..
Feel sorry for Condor staff , have plenty of good friends among them ...
Fully agree with you ATC Watcher.

The notion of "cruise ship" travel should be over for good after this crisis.
Virus super spreaders as it has been shown so far, specially for that age group..

Why LH would take over Condor is beyond me - the only useful bit as you correctly state is the name. Nothing else.

LH did save Pan Am Germany at a very high cost back in the days. It didn't contribute anything to the company but the landing rights in Berlin. Paid for at a very high price for political reasons.

I don't see a repeat here.
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Old 15th Apr 2020, 21:40
  #55 (permalink)  
 
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Originally Posted by EAM View Post
Didn't you say there is a big group of wealthy retired people in Germany who want to spend money for their holidays? So that shouldn't be a problem, specially because pension is going up this summer. ;-)


Retired people are more concerned about availability of medication than about future holidays these days. The question is how many of this age group will survive, and who. I don´t think all of us " old farts " will be around in three month´s time. And the rise in pension - well, it will be taken away again with the income tax. Like every year.
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Old 16th Apr 2020, 06:00
  #56 (permalink)  
 
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Well, that is actually macro economically not bad, a lot of free flats or houses and wealth handed down to the next generation...
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Old 16th Apr 2020, 15:04
  #57 (permalink)  
 
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Like any proper "divorce" both parties are now blaming each other now and demanding "compensation" for contract breach ...

And the bridge loan of 380€ M is due tomorrow. Now Condor is in talks for another loan and the deferral of the original loan.

https://www.n-tv.de/wirtschaft/Polen...e21718365.html

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Old 16th Apr 2020, 16:42
  #58 (permalink)  
 
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Originally Posted by foxcharliep2 View Post
The notion of "cruise ship" travel should be over for good after this crisis.
Virus super spreaders as it has been shown so far, specially for that age group..
There was an article in one of the UK papers last weekend commenting about the enthusiastic booking of berths for next year so your assumption may be misplaced.
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Old 16th Apr 2020, 19:16
  #59 (permalink)  
 
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Originally Posted by SamYeager View Post
There was an article in one of the UK papers last weekend commenting about the enthusiastic booking of berths for next year so your assumption may be misplaced.
The Darwin Awards will be happy to accept new members.
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Old 16th Apr 2020, 19:55
  #60 (permalink)  
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Originally Posted by SamYeager View Post
There was an article in one of the UK papers last weekend commenting about the enthusiastic booking of berths for next year so your assumption may be misplaced.
Where the news is coming from and based on which data .? The spread of the virus in ships is apparently quite particular. Look at what happened in a couple of days on board the french aircraft carrier :https://www.bbc.com/news/world-europe-52308073
I think it might take a while for the cruise industry to get back where it was..
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