At Condor, the entrepreneurial future seems to be secured after Corona, a few days ago the asset manager Attestor announced that it would take over 51 percent of the shares. In order to enable the investor to get involved at all, the federal government and the state of Hesse are waiving claims amounting to 150 million euros. Now everyone is waiting eagerly for the release from Brussels.

Because the planned restructuring of the KfW loan still has to be viewed from an antitrust and subsidy law perspective. If it does not pass the test, the planned takeover will fail. Specifically, the commission has to agree to the plan that Condor has to repay a maximum of 550 million euros from a KfW loan package of 400 million euros, which secured liquidity during the crisis.

Attestor had promised the airline EUR 450 million equity - the fund intends to invest 250 million of this in the modernization of Condor's long-haul fleet. The investor will initially take over 51 percent of the airline and receive an option on the remaining shares. According to “Reisevor9”, Attestor's approval of the EU Commission's waiver of claims by the federal government and the state of Hesse is a “mandatory requirement for entry”. Without a release from Brussels “the transaction will not be completed”.