it’s been a dire week for European airlines. A French Court has rejected attempts by several parties to buy AigleAzur, saying they weren’t viable. The airline has been officially liquidated.
Thomas Cook has undergone formal liquidation in the U.K., but its 49% owned subsidiary, Condor, has for now been bailed out by the State Government of Hesse to the tune of €200m. German bankruptcy laws are very different and allow for a greater degree of government involvement.
The British Government has come under considerable pressure to change laws it said it would change after the Monarch collapse in 2017, to allow for greater flexibility, but has been so consumed by Brexit its had no time for anything else.
Even so, many people are of the opinion Thomas Cook’s collapse was inevitable and no bailout would ever have made it viable.
Condor now has the opportunity to look for an investor but the most likely- Lufthansa – is staying silent.