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Thomas Cook collapse: German airline Condor seeks financial help

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Germany is considering issuing financial aid to the Condor airline after Thomas Cook declared bankruptcy.

Thomas Cook, which has a 49% share in the airline, collapsed on Monday.

Condor has applied for a bridging loan from the federal government and is awaiting a response, with German media reporting the amount requested was €200m ($220m; £176m).

Thomas Cook’s collapse has reportedly left 600,000 tourists stranded, including tens of thousands of Germans.

German economy minister Peter Altmaier said that the government would make a decision on financial aid within the coming days.

The government in the state of Hesse has already promised its support, a statement from the airline said.

“I assure you that we will do everything in our power and leave no stone unturned, so that our fleet continues to bring our guests reliably to their holiday destinations all over the world and back home as usual,” Ralf Teckentrup, chairman of Condor said.

Condor has said it will not carry passengers who have booked with Thomas Cook or its subsidiaries. Those passengers have been advised to get in contact with their tour operator.

A German government official said that compulsory insurance should cover most German travellers if they are stranded abroad, Reuters reports.

Meanwhile, Thomas Cook’s subsidiary in Germany is still operating but has stopped taking bookings, DW.com says.

Thomas Cook’s German operations are widely considered to be in a healthier state than those in Britain, where they have remained profitable, DW adds.

BBC

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