The bankruptcy of the British travel agency Thomas Cook has consequences on several airlines affiliates of the group. More than 100 Airbus and Boeing are affected.
The bankruptcy of the British travel agency Thomas Cook has consequences on several airlines affiliates of the group and especially Thomas Cook Airlines as well as Condor that operate a fleet of more than 100 Airbus and Boeing. Condor just received a guarantee from the German government and the Hessian State Government for a six-month bridging loan to the amount of 380 million euros to avoid a treasury crisis. This commitment is for now subject to approval by the European Commission. The German airline, that carries an average of 7 million passengers, has 53 medium and long-haul (21 Airbus A320/A321, 15 Boeing 757 and 16 Boeing 767-300ER). Not to mention a reserve tanker aircraft A330 made available for the Royal Air Force. As for Thomas Cook Airlines UK, the airline operates 44 Airbus (thirty-seven A320/A321 and seven A330). The rest of the fleet is split between Spanish and Scandinavian structures. The main companies affected by the crisis are the aircraft lessors since, except for five, all the Airbus and Boeing aircraft are under leasing contracts with 38 different lessors and investment funds.