September 24, 2019 / 9:06 AM / a month ago

Berlin to decide on loan for Thomas Cook's Condor within next days - Minister

FILE PHOTO: German Economy Minister Peter Altmaier attends a joint news conference after a meeting in Paris, France, September 19, 2019. REUTERS/Gonzalo Fuentes

BERLIN (Reuters) - The German government will decide within the next coming days on whether to offer financial support to Condor, the German airline owned by insolvent British travel operator Thomas Cook TCG.L, German Economy Minister Peter Altmaier said on Tuesday.

“It is very important that we apply the usual procedure,” Altmaier told journalists in Berlin, adding that a request Condor has filed for a bridging loan is currently being examined by the German government.

Condor’s problems are not home-made but caused by its parent, the minister added.

The British government opted against bailing out Thomas Cook as it would have been a waste of taxpayers’ money to throw good money into a business that was not meeting the needs of its customers, a British minister said earlier on Tuesday.

Reporting by Tassilo Hummel, editing by Riham Alkousaa

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