LOT Polish parent acquiring Condor

The Polish Aviation Group, parent of LOT Polish Airlines,
will acquire German leisure carrier Condor. 

LOT’s parent expects the transaction to close in April,
pending antitrust approvals from competition authorities. 

The acquisition secures the future of Condor, which had been
a subsidiary of the Thomas Cook Group prior to the tour operator’s collapse
last September. Condor continued flying after the collapse with the support of
a six-month, $418 million bridge loan from Germany.  

Condor will continue to operate under its current
leadership. 

Frankfurt-based Condor flies to 10 U.S. cities. LOT flies to
five U.S. airports and will add San Francisco and Washington-Dulles this
summer.

LOT and Condor combined will carry approximately 20 million
passengers per year.

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