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2019-05-10: Lufthansa presents takeover offer for Condor

British brand Thomas Cook put the holiday carrier up for sale in February.

At the shareholders' meeting in Bonn on 7th May 2019, Group CEO Carsten Spohr stated that Lufthansa had made a non-binding purchase offer to the British owner Thomas Cook. Lufthansa has announced that it intends to take over the holiday airline Condor completely. However, the offer could also be extended to all airlines of the Thomas Cook Group.

In particular, long-haul flights to tourist destinations from Frankfurt and Munich appear attractive with regards to Condor. These routes could be connected to the Lufthansa subsidiary Eurowings. The offer is part of extensive expansion plans, which include further acquisitions, hubs and an increase in the stock market value.

In February the tourism group Thomas Cook put its airlines with 105 aircraft and around 9000 employees up for sale. The group hopes to obtain funds for new hotels and digitisation through the sale. According to media reports, the Wizz mother Indigo, Ryanair , Easyjet and British Airways mother IAG were also interested in Thomas Cook Airlines.

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