Condor has ten years to repay the government loan in the amount of 550 million euros, but they are currently not actively looking for a buyer.

The Condor airline is currently in talks with the social partners and can no longer rule out possible job cuts. The insolvent carrier will also no longer be able to top up the short-time work allowance from summer onwards. This is what managing director Ralf Teckentrup explained to the portal Aerotelegraph.com.

The low fuel price would temporarily play into the hands of Condor, because due to the protective shield procedure, it was only possible to hedge up to and including March 2020. The consequence of this is that the holiday airline is currently refueling at the current price. This is currently comparatively low, but should fuel prices rise again, this could develop into a boomerang for Condor.

The wet lease contracts with Thomas Cook Aviation and Thomas Cook Balearics have already been terminated in view of the ongoing protective shield proceedings. According to Teckentrup, the reduction of 170 jobs was initiated in December of the previous year. The long-haul aircraft, which were recently converted into freighters, are to get their original function back with the resumption of long-haul passenger flights, the airline boss told Aerotelegraph.com.

Teckentrup plans to leave the protective shield proceedings at the end of September 2020. However, due to the corona pandemic and the failed sale to the LOT parent company PGL, they are currently not looking for a buyer. The government loan in the total amount of ten million euros should run "more than ten years", the manager told Aerotelegraph.com.