Ralf Teckentrup, chief executive of German charter airline Condor, has indicated that he does not expect to find a new owner until 2022 at the earliest.
“I do not see that we will have an investor process in the next 12 months,” Condor’s Ralf Teckentrup said.
Condor has received €550 million in state aid, but a sale by German state lender KfW is expected.
The airline concluded German protective shield proceedings in November 2020, which allowed the company to gain legal independence after the compulsory liquidation of its former parent company, the Thomas Cook Group plc, in September 2019. In order to protect its US routes, the company has also filed for Chapter 15 protection under US law on October 2. Chapter 15 makes the provisions of the German restructuring proceedings and their conclusion binding in the US as well and clears the way for Condor to be a healthy company as of November in all its markets.