Germany's Condor to cut 15 – 25% of workforce

Frankfurter Allgemeine Sonntagszeitung has reported German airline Condor, formerly owned by Thomas Cook Group, will cut between 15% to 25% of its staff to reduce operating costs amid the ongoing coronavirus crisis, the news source said.

The carrier said it plans to shed between 650 and 1,000 jobs, a move in line with measures put in place by the competition. Protective shield proceedings adopted before the Covid-19 crisis hit will probably last until the end of September, he said.

The company also plans a move to smaller headquarters, which will save about EUR 1 million.

Condor has been bailed out by the German government twice, with a state-guaranteed loan of EUR 550 million winning European Union approval in April.

LOT Polish Airlines abandoned a planned takeover of the holiday carrier in the midst of the pandemic.