who owns condor airlines
Condor Airlines is majority-owned by the European asset management firm Attestor, which holds a 51% stake in the company, while the remaining 49% is held via SG Luftfahrtgesellschaft on behalf of the German federal government and the state of Hesse.
Quick Scoop: Who owns Condor Airlines?
Condor is a German leisure airline that used to be part of the Thomas Cook Group before that group went bankrupt in 2019. After interim state support and a failed sale to the Polish Aviation Group (owner of LOT Polish Airlines), a new long‑term ownership structure was put in place in 2021.
Current ownership structure
- Majority owner: Attestor , a European/British investment and asset management firm, holds 51% of Condor.
- Minority owner: 49% is held by SG Luftfahrtgesellschaft, a vehicle acting on behalf of the German federal government and the German state of Hesse.
- Nature of control: As the 51% shareholder, Attestor is the controlling owner and sets the strategic financial direction, while the public‑sector stake secures jobs and supports stability.
How and why Attestor took over
- Background: After Thomas Cook’s collapse and the shock of the COVID‑19 pandemic, Condor survived using a large German government loan and bridge financing to keep operating.
- Failed sale: A planned acquisition by the Polish Aviation Group (LOT) collapsed in 2020 amid the pandemic.
- Final deal: In 2021, Attestor agreed to buy 51%, inject about €200 million in equity, and provide roughly €250 million more for renewing Condor’s fleet, subject to EU state‑aid and antitrust approvals.
- Closing: The transaction was formally completed at the end of 2021, when Attestor became the new majority shareholder.
What this means for Condor today
- Strategy and investment: Attestor’s role is to finance modernization (especially new aircraft) and support Condor’s growth as a focused leisure carrier from Germany and Europe.
- Jobs and operations: Public statements around closing emphasized preserving around 4,000+ jobs and putting Condor on a more secure long‑term financial footing.
- Market position: With a specialized leisure model and backing from an investment fund plus the German state, Condor is positioned as a mid‑size, resilient holiday airline rather than a full‑service global network carrier.
Simple table: Who owns Condor?
| Owner / Stakeholder | Approx. Stake | Role |
|---|---|---|
| Attestor (investment firm) | 51% (majority) | Controls strategy, provides equity and fleet renewal funding. | [9][5][1][3]
| SG Luftfahrtgesellschaft (on behalf of German federal government and state of Hesse) | 49% (minority) | Public‑sector shareholder supporting stability and jobs. | [5][3]
TL;DR
Condor Airlines is not owned by a big traditional airline group anymore; instead, it is mostly owned by the investment firm Attestor (51%), with the remaining 49% held via a German public‑sector vehicle representing the federal government and the state of Hesse.
Information gathered from public forums or data available on the internet and portrayed here.
