Condor CEO open to selling German airline to Gulf carrier

Condor, the German leisure airline supported by state funds, is actively seeking a new owner and is not ruling out potential buyers from the Gulf region. CEO Peter Gerber indicated that the airline is likely to become part of a larger conglomerate.

Gerber suggested that major Gulf carriers such as Emirates, Etihad, or Qatar Airways could be potential candidates. He noted that these airlines might seek to diversify their market dependence, possibly influenced by past experiences like the U.S. war in Iran. Turkish Airways, aiming for European expansion, was also mentioned as a possibility. Lufthansa, a dominant player, is ineligible to acquire Condor due to antitrust regulations.

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Of course, one doesn't need to be a prophet to say that Condor will probably dock with a larger conglomerate.

Condor has been partially state-owned since receiving a multi-million euro state loan during the COVID-19 crisis. Currently, the German state holds a 49% stake, which it intends to divest. The remaining 51% is owned by the British financial investor Attestor, which invested in the airline in 2021.

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These are also strong providers who, perhaps after the experiences with the USA in the Iran war, might want to be less dependent on their home market and could also be open to partners from other regions.