German Condor Airlines bought out by Polish Aviation Group


Polish Aviation Group (PGL), the owner of Polish national air carrier LOT, will take over the largest German holiday airline Condor, the Polish Prime Minister Mateusz Morawiecki has announced, Polish News Agency (PAP) has reported.

Photo by SubstanceTproductions/

“The takeover of Condor perfectly fits the strategy of PGL. This transaction also secures the future of Condor and guarantees stability and new prospects of development for employees, customers and business partners of the airline,” Rafał Milczarski, the head of PGL said on January 24.

The purchase of Condor by PGL was supported by bank Pekao SA, controlled by the Polish State Treasury.

Between 2009 and 2019 Condor was owned by British tour operator Thomas Cook, which went bust towards the end of last year. Around 9.4 million passengers fly annually with Condor from eight German airports to around 90 destinations in Europe, Africa and America.

The transaction is expected to be completed by April, once customary antitrust approvals are obtained and Condor exits the protective shield proceedings it entered in Germany.

When Thomas Cook collapsed in 2019, the carrier applied to the German government for financial support of EUR 380 million, PAP noted, as cited by Poland In.


Household income improved in Q1 Analysis

Household income improved in Q1

Ministers in new Orbán gov't sworn in Parliament

Ministers in new Orbán gov't sworn in

Spring’s allergy season - the heat is on Interview

Spring’s allergy season - the heat is on

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.