By Ilona Wissenbach
FRANKFURT (Reuters) -Investment firm Attestor is reviewing strategic options, including a partial sale, of German charter airline Condor and has hired Barclays to that effect, the carrier’s CEO Peter Gerber said.
“Attestor recently initiated a process to identify strategic options for Condor,” Gerber told Reuters.
Attestor declined to comment.
In 2021, Attestor bought 51% of Condor from the German government, which had bailed out the airline after the collapse of former parent Thomas Cook and provided further financial support during the pandemic.
Condor plans to repay the granted state aid to state-backed lender KfW by the end of 2026, by which point Attestor could take over the government’s remaining stake at a previously agreed price.
“It is important for Condor that it can continue to invest as much as possible and expand its reach,” said Gerber.
Bloomberg last week reported that Attestor was seeking a partner for its aviation business, which includes Condor and Marabu Airlines, and that it was working with Barclays, citing people familiar with the matter.
(Reporting by Ilona Wissenbach; Writing by Christoph Steitz; Editing by Rod Nickel)
