Condor Take over called offNo condor take over by Air Berlin - search for alternative soultions
11th July 2008 - Air Berlin and Thomas Cook Groupinformed the German Federal Cartel Office on Friday about the withdrawal of the application to acquire Condor Flugdienst GmbH by Air Berlin. The September 2007 contract for acquiring Condor in the course of a share swap was cancelled by mutual agreement.
Both companies have agreed to continue negotiations regarding the feasibility of alternative solutions.
Both Air Berlin and Thomas Cook are interested in exploring other options. In a written communication to the Federal Cartel Office, both parties cited the significantly changed economic framework conditions since the contract was concluded - the price of kerosene alone has more than doubled in the meantime - as the main reason for withdrawing the application. At present, the parties involved intend to continue their discussions, without being subjected to time pressure.