Poland’s LOT airlines purchases German Condor airlines

Unofficially, the purchase was said to have cost €250 million

editor: REMIX NEWS
author: Marcin Makowski

The history of Polish aviation has a new major chapter with LOT Polish Airlines’ purchase of German Condor airlines, helping Poland’s top airline company double its potential.

Just in 2013, then Polish President Bronisław Komorowski signed a bill which allowed for the purchase of a majority share of LOT’s stocks and permission to privatize the company.

LOT was losing millions and the government was searching for a European buyer, which was thought to most likely be a German company. The prime minster at the time, Donald Tusk, claimed that unless LOT fully restructured, the airline company would cease to exist.

A lot has changed since then, with LOT’s current CEO, Rafał Milczarski, and Condor CEO Ralf Teckentrup,, signing a deal on Jan. 24, 2020, for LOT to take over Condor, one of the largest tourist airlines in Europe.

 


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