EC approves €525.3m aid for German CondorEuropost
The European Commission has found €525.3 million aid package by Germany in favour of the airline Condor, in context of coronavirus outbreak, is in line with EU State aid rules. The approval of the aid package, based on three separate Commission's decisions, relates to two measures to compensate Condor for damages suffered as a result of the coronavirus outbreak, worth in total €204.1 million, and €321.2 million of restructuring support to enable Condor's return to viability.
“The aviation sector has been hit particularly hard by the various travel restrictions necessary to contain the spread of the coronavirus. The measures we approved today will enable Germany to compensate Condor for damages directly suffered as a result of such restrictions. At the same time, the restructuring plan for Condor, which we have also approved today, will ensure the airline's path towards long-term viability”, Executive Vice-President Margrethe Vestager, in charge of competition policy, said.
Condor is a German charter airline, which provides air transport services to individual clients and tour operators from its hubs in Germany, with a focus on the leisure travel market. It serves 126 destinations all over the world. The restrictions put in place in Germany, as well as in other EU Member States and third countries, in order to limit the spread of the coronavirus have heavily affected Condor's operations, in particular regarding international and intercontinental flights. As a result, Condor has been incurring significant losses since 17 March 2020.