September 24, 2019 / 8:28 PM / 24 days ago

Germany to offer 380 million euro bridging loan to Condor

BERLIN (Reuters) - Germany has decided to guarantee a bridging loan of 380 million euros (335 million pounds) to Condor, the German airline owned by insolvent British travel operator Thomas Cook, Economy Minister Peter Altmaier said on Tuesday.

“Condor is a profitable company and therefore our decision was based on economic factors, not on political criteria,” said Altmaier, adding the decision meant that many of the roughly 5,000 workers would be able to keep their jobs.

Altmaier added that the state of Hesse, where Condor is based, would participate in the financial aid, as previously reported by Reuters.

Reporting by Madeline Chambers; Editing by Chris Reese

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