Attestor is moving towards full ownership of Condor, with the German leisure airline’s remaining 49% stake set to be taken over by 30 September if no other investor appears. The British investment firm already controls 51% of Condor, and a full takeover would end the carrier’s mixed ownership structure as it faces fresh cost-cutting demands and financing pressure.
The ownership change comes as Condor pursues a major savings programme linked to its growth plans. Unions say the airline needs to trim around EUR 200 million over the next two years, with reductions expected across supplier contracts, licensing agreements and personnel costs. Support from Attestor is understood to be tied to the airline delivering those savings.
The remaining shares are still held in state hands, and the planned purchase is expected to go ahead even if Condor does not secure a strategic partner by the deadline. A full Attestor takeover would give the investor greater room to steer fleet, network and restructuring decisions at one of Germany’s best-known leisure carriers.