The European asset manager Attestor has acquired a 51% stake in Condor as planned. The transaction has been approved both by anti-trust officials and the EU Commission, which also issued state-aid approval for the acquisition of Condor through Attestor. The decisions cleared the way for Attestor to invest €200 million in fresh equity capital in Condor. Additionally, another €250 million will be invested in the modernization of the leisure airline’s fleet.
Thus, with the approval of the Supervisory Board, Condor has decided to order 16 latest-generation Airbus A330-900neos. As the German launch customer for the Airbus A330-900neo, Condor is thus focusing on latest technology, maximum efficiency, and the highest level of customer comfort. Fuel consumption per passenger per 100 kilometers will be 2.1 liters, which makes Condor the European frontrunner on long-haul flights. The first aircraft is expected in the fall of 2022, whilst the replacement of the entire long-haul fleet is scheduled to be completed by mid-2024.
“We are introducing the two-liter aircraft into our operations and will be setting new standards: with our modern long-haul fleet, we will inseparably combine sustainability and holidays with Condor in future. On board the quietest cabin in the world on an aircraft of this size, our guests can also expect the highest level of comfort in a brand-new Business, Premium Economy and Economy Class,” says Ralf Teckentrup, CEO of Condor. “With our fleet modernization we reach another milestone in our company’s history and take the next step towards the future.” (€1.00 = US$1.18 at time of publication.)
