Investment firm Attestor is expected to acquire the remaining 49% stake in German leisure airline Condor from the German government by 30 September, giving it full ownership of the carrier, according to a Reuters source.
Attestor has held an option to purchase the government’s stake since 2021, when it acquired a 51% share after helping rescue Condor following the collapse of Thomas Cook and the COVID-19 pandemic. The firm invested €200 million in equity and committed a further €250 million to support the airline’s fleet renewal.
Although the acquisition will proceed regardless, Attestor is reportedly exploring the possibility of bringing in a strategic airline investor at a later stage, ideally by selling a minority stake to a larger airline group. Condor Chief Executive Peter Gerber (a former CEO of Brussels Airlines) recently told Germany’s Stern magazine that Gulf carriers or Turkish Airlines could be suitable partners, while noting that a deal with Lufthansa would likely face greater regulatory scrutiny.
Condor operates a fleet of nearly 60 aircraft, employs around 5,500 people and carries close to 10 million passengers annually.