FRANKFURT: Frankfurt-based airline Condor’s request for emergency financing was granted by the German government in a bid to get the tourist carrier through the winter after the demise of U.K. parent Thomas Cook Group Plc.
The credit worth 380 million euros ($420 million) must be approved by the European Commission and will be valid for six months, according to the airline, which has around 5,000 employees. Some 240,000 tourists are currently relying on Condor to get back to Germany from vacation, according to Germany’s Economy Ministry.