BERLIN, Could 20 (Reuters) – German constitution airline Condor can be acquired by funding fund Attestor, which pledged to put money into new planes to assist the provider emerge from the coronavirus disaster, Condor mentioned on Thursday.
Attestor will buy a 51% stake from the German state for 200 million euros ($244 million) and plans to take a position an extra 250 million euros to modernise Condor’s fleet, the airline mentioned in an announcement.
A deliberate sale to Poland’s nationwide provider LOT, for about 300 million euros ($357.7 million), fell aside final 12 months when the coronavirus disaster grounded air journey.
Attestor, which manages about 5.5 billion euros for college trusts and rich households, has the choice to amass the remaining 49% in Condor from the federal authorities and the state of Hesse later, the assertion mentioned.
($1 = 0.8185 euro)
(Reporting by Ludwig Burger; Enhancing by Richard Chang)
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