EU approves €321.2 million aid for German airline Condor
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FILE PHOTO: An airplane with the logo of air carrier Condor by Thomas Cook is seen at the airport in Frankfurt, Germany, September 24, 2019. REUTERS/Kai Pfaffenbach/File Photo
BRUSSELS (Reuters) - The European Commission has approved €321.2 million in restructuring aid granted by Germany for Condor under EU State aid rules, it said on a statement on Monday.
The decision follows a May 2024 court ruling that annulled the Commission's earlier 2021 decision after Irish airline Ryanair challenged the 2019 government bailout of Condor. Last July, Condor said it was confident the EU would confirm authorization of the aid.
Condor, a German charter airline focused on leisure travel, filed for insolvency in 2019 after the collapse of its parent company, Thomas Cook. The aid aims to restore the airline’s long-term viability.
(Reporting by Charlotte Van Campenhout, Editing by Sudip Kar-Gupta)
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