LOT’s parent PGL will not take over Condor

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On 13 April, Polska Grupa Lotnicze (PGL) announced it would not take over Condor as a consequence of the COVID-19 outbreak.

Uncertainty at Condor. The state-owned Polish group which was supposed to take over the German leisure airline withdraws in view of the current crisis. The agreement was negotiated for €300 million and was supposed to be effective this month.

“I confirm that PGL informed Condor today about its withdrawal from the purchase of this company. We don’t provide any more information at this stage,” PGL communications director Katarzyna Majchrzak said in an email to Reuters.

Spokespeople of Condor and German economy ministry declined to comment.

The German government recently said to be ready to take over if that situation would happen.

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