Attestor Acquires Remaining Stake in Condor Amid Government Stabilization
What happened
Attestor Capital is acquiring the remaining 49% of Condor’s capital from SG Luftfahrtgesellschaft, a holding company that has acted on behalf of the German federal government and the state of Hesse. Attestor initially purchased a 51% stake in Condor in 2021. The acquisition of the remaining shares is scheduled to be finalized by August 31, 2027.
From ch-aviation.com
Why it matters
The financial troubles faced by Condor stemmed from the insolvency of its former parent company, Thomas Cook Group, and the impacts of the Covid-19 pandemic. The German federal government and the state of Hesse played a crucial role in stabilizing the airline during this crisis.
From ch-aviation.com
Who's involved
- CondorThe airline whose operational stability is currently being managed through a government-backed acquisition.
- HesseThe state whose government shares were held by SG Luftfahrtgesellschaft, involved in the stabilization of Condor.
- AttestorThe investment firm set to acquire the majority stake in Condor.
- Thomas Cook GroupThe defunct travel company whose financial insolvency triggered the crisis for Condor.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- CondorSpeculative
The airline's operational structure could be affected by the successful completion of the ownership transition.