Lufthansa to bid for Thomas Cook's Condor

Tuesday, 07. May 2019 10:40

German aviation giant Lufthansa AG confirmed plans on Tuesday to buy Condor from Thomas Cook, in aims to regain control of the British airline it gave up in 2009. Lufthansa stated it would make a non-bonding offer to the British company, leaving the option open to acquire all of its airlines in the future.

"We decided yesterday in the meeting of the management board to bid for all of Condor with the option to be able to extend this to all Thomas Cook airlines," Lufthansa Chief Executive Officer Carsten Spohr said at the airline's annual meeting in Bonn, adding that Lufthansa does not expect at the moment to buy all of Thomas Cook's airlines due to antitrust laws in place.

Lufthansa shares traded 0.58% lower at 10.39 am CET. Thomas Cook surged 8.44% at 10:25 am CET.

Related Links: Thomas Cook Group plcDeutsche Lufthansa AG
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Breaking the News / SS