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2 clusters · 23 sources · 4 days · First seen · Last updated

Attestor buyout of Condor airline

Overview

British majority shareholder Attestor has announced plans to exercise an option to acquire the remaining 49 percent stake in the German leisure airline Condor. The transaction is expected to be completed by August 31, 2027.

This buyout will result in the final exit of the German federal government and the State of Hesse, which had maintained ownership through SG Luftfahrtgesellschaft following the insolvency of Thomas Cook and the economic pressures of the COVID-19 pandemic. Condor has already repaid its 175 million euro KfW state aid loan ahead of schedule.

Alongside this ownership transition, Condor is implementing several operational and strategic changes. These include fleet modernization and a network restructuring to support its Frankfurt hub. Additionally, the airline is preparing for a move to Terminal 3 at Frankfurt Airport in mid-April 2027. Under the ‘Da Vinci’ project, the company is collaborating with Fraport to develop new passenger and baggage processes, specialized security gates, and ‘walk boarding’ capabilities to increase turnaround efficiency.

Entities

Condor · Attestor · State of Hesse · Federal Republic of Germany · SG Luftfahrtgesellschaft

Timeline

  1. [BUSINESS] 2 sources
    Condor ownership shifts as Attestor to acquire final state shares

    Attestor will acquire the remaining 49% of Condor from the German state by August 2027, while the airline prepares to move to Frankfurt Airport's Terminal 3.

  2. [BUSINESS] 21 sources
    Attestor to complete full buyout of Condor by August 2027

    British investor Attestor will acquire the remaining 49 percent stake in Condor by August 2027, marking the full exit of the German state from the airline.

Sources

aerotelegraph.com · aerotime.aero · airportal.hu · avioblog.it · extratipp.com · faktum.at · fehmarn24.de · finanznachrichten.de · hna.de · it-boltwise.de · kreiszeitung.de · kurierverlag.de · leinetal24.de · mannheim24.de · merkur-online.de · merkur.de · n-tv.de · newsfeed.zeit.de · op-online.de · travmagazine.nl · tz-online.de · tz.de · upday.com