Condor. Photo: Shutterstock A significant change in the ownership structure of the German airline Condor: The company announced that, after repaying the government aid it received, it will exercise the option to purchase the remaining 49% of the company's shares, currently held through SG Luftfahrtgesellschaft on behalf of the German government and the state of Hesse.
Attestor will purchase the shares, which has owned 51% of Condor since its 2021 investment.
The completion of the transaction, the Closing, is scheduled for August 31, 2027. The current ownership structure was created after one of the most complex periods in Condor's history.
The airline was plunged into crisis following the collapse of its former parent company Thomas Cook and later the coronavirus crisis. The German government and the state of Hesse intervened at the time and helped stabilize the company.
In 2021, Attestor entered as a strategic investor and acquired 51% of Condor's shares. SG Luftfahrtgesellschaft retained the remaining 49%, acting on behalf of the federal government and the state of Hesse.
As part of the original deal, Attestor was given an option to purchase the remaining shares at a later stage. Now, after Condor repaid the government aid early in spring 2026, it has exercised the option.
Condor describes the move as the end of an extraordinary chapter in the company's history and as a foundation for continued growth.
In recent years, the company has completed a significant renewal of its wide-body aircraft fleet and continues to expand its fleet of short- and medium-haul aircraft.
At the same time, Condor is gradually changing the nature of its operations and expanding its network of city flights, which is intended, among other things, to feed its operations at Frankfurt Airport.
This week, the company announced it will add Athens, Florence and Stockholm to its Frankfurt routes next summer, bringing its European city network to 16 destinations.
The transfer of the remaining shares to Attestor is now expected to also complete the change in ownership structure and leave the airline without government ownership.