LOT Polish Airline owner, PGL, has pulled out of its purchase of German carrier Condor, after announcing in January that it would make a bid.
The decision has arisen due to the current impact of the COVID-19 pandemic which has damaged the whole aviation industry. PGL announced that the company “informed Condor about its withdrawal from the purchase of this company.”
In January 2020, Condor broke from the Thomas Cook Group and shortly after was contacted by PGL who wanted to purchase the airline. This deal would have accumulated to 300-million euros but is now unlikely to be carried out due to the current situation facing the industry.
Remaining hopeful, a Condor spokesperson stated that “We are also in talks about state aid because of the effects of the Corona crisis. Our flight operations will continue as normal – as far as possible due to the effects.”