The takeover of the German holiday airline Condor by the Lot group parent PGL, which failed in the spring, now has legal consequences: a claim for damages has been brought against the Polish state holding company.
This emerges from the PGL's annual report. Accordingly, Condor demanded 2020 million euros in court in September 56. In the report it can be read, among other things, that the defendant has violated the obligations arising from the purchase contract and furthermore refuses to comply with them. PGL rejects the accusation sharply and claims that Condor is trying unjustifiably to obtain improper financial benefits. Upon request, the holiday airline did not provide any information on the lawsuit in question and pointed out that in principle, ongoing legal proceedings were not commented on.
At the beginning of the year, the contract for the holiday airline, which slipped into protective shield proceedings due to the bankruptcy of the parent company Thomas Cook, surprisingly went to PGL, the official owner of the Star Alliance member Lot. Lufthansa initially reacted with little satisfaction and even evaluated the cancellation of the feeder flights. But that never happened, because shortly after the start of the corona crisis in Europe, the deal with the Polish state holding broke. Everything was actually already prepared and Condor had already left the protective screen.
The Federal Republic of Germany and the State of Hesse helped the holiday airline, which was once part of the Lufthansa Group, bailed out again and granted another loan through the Reconstruction Loan Corporation. This time 550 million euros were made easy. In autumn 2019, Condor already received a government-guaranteed loan of 380 million euros. The carrier had to apply for protective shield proceedings again in the spring. The termination of this was decided at the end of October and the creditors also gave their consent. Since then, Condor has been in fiduciary ownership. After the corona crisis has ended, people want to look for a buyer.
To what extent the claim for damages against PGL will be successful remains to be seen. Lucas Flöther, who acts as trustee at both Condor and Air Berlin - also as insolvency administrator for the Berliners - also brought a lawsuit against Etihad Airways some time ago. This will be negotiated in London because the court there declared that it had international jurisdiction. Flöther actually wanted Air Berlin to negotiate against Etihad in Berlin, but this project failed. So far, little has happened in the compensation proceedings. The duration of the proceedings is expected to be very long.