Condor restructures shareholder base after repaying German state aid
The German leisure carrier Condor is reorganising its ownership after early repayment of state stabilisation funds, with the 49% held on behalf of the federal government and Hesse set to be restructured.
Condor is reorganising its shareholder structure after repaying its state aid package early. The repayment was settled in spring 2026 and clears the way for restructuring the 49% stake held by SG Luftfahrtgesellschaft, which acted for the Federal Republic of Germany and the state of Hesse.
The move formalises a purchase option agreed in 2021, when long-term investor Attestor first entered the airline's capital to acquire those shares. The transaction is scheduled to complete on 31 August 2027.
It closes a rescue and stabilisation period for the carrier that followed the insolvency of its former parent, Thomas Cook, and the operational and financial effects of the COVID-19 pandemic. Both the federal government and Hesse took part in stabilising the company financially during that period. Attestor has backed the airline's strategic development since joining as a long-term investor in 2021.
Condor says it is also continuing an operational transformation, including the completion in recent years of a full renewal of its long-haul fleet. Work continues on its short- and medium-haul fleet.
Sources
- aviacionaldia.comCondor reorganiza su estructura accionarial tras la salida del Estado alemán