EU Greenlights €321M Lifeline for Condor: A Boost for German Aviation

The European Commission has approved €321.2 million in restructuring aid for Condor, a German charter airline, under EU State aid rules. This follows a court annulment of a previous decision, challenged by Ryanair. The aid aims to ensure Condor's long-term viability post-insolvency after its parent company's collapse.

The European Commission has sanctioned €321.2 million in restructuring aid to Condor, a German charter airline, according to EU State aid regulations. This development was disclosed in a Commission statement on Monday.

This approval follows a May 2024 court ruling that overturned the Commission's earlier 2021 decision. The reversal came after Irish airline Ryanair contested the German government's 2019 bailout of Condor. Condor had expressed confidence last July that the EU would ratify the aid authorization.

Condor faced insolvency in 2019 due to the collapse of its parent company, Thomas Cook, and the aid is intended to restore the airline's sustainability for the long haul.

(With inputs from agencies.)