Air traffic
Condor wants to leave with a renewed brisk loss zone
On his way back to the profit zone, the former holiday pilot Condor relies on a uniform fleet. The airline experiences a small special economy after the Pope’s death.
The airline Condor wants to leave the loss zone with a new business model and a completely renewed fleet. In the past financial year 2023/24 (September 30th), the base of the airline still flown in a loss of 62 million euros and thus almost halved the previous year’s value, as the management reports.
Condor boss Peter Gerber and CFO Björn Walther explain according to internal operational key figures. Condor is currently still accounting for German commercial law HGB, which is difficult to compare with the international accounting IFRS. The total income rose by a good 15 percent to 2.44 billion euros compared to the previous financial year. With a space load of 91.6 percent, the number of passengers rose by almost 8 percent to a good 8.5 million.
In the current financial year, you are traveling for the first time with a long-haul fleet converted entirely from Boeing to new Airbus jets and benefit from the larger range of seats such as the more reliable and economical operation of the aircraft. In the first quarter of the new financial year (October to December 2024), operational profit grew from 52 to 113 million euros. Gerber does not give a forecast for the current year. After the summer of 2025, the last Boeing jet on the short distance in favor of Airbus A320neo is also said to leave.
The former holiday pilot Condor has recently been exposed twice shortly before: both according to the bankruptcy of the former parent company Thomas Cook and in the Corona crisis, the company was saved by the German state. Also on board has been the British financial investor attestor since 2021, which in particular financed the fleet change. The auxiliary loans from the KfW support bank are to be repaid by September 2026.
Even under pressure from the great competitor Lufthansa, Condor is currently building a European short extension network outside of classic holiday destinations. With these flights, transferers are to be brought to the Frankfurt hub and also addressed business customers. A small special economy is currently on the connection to Rome after the Pope’s death, reports Gerber. Vienna and Zurich also developed well. Business to North America is currently strong, but is “in no way catastrophic”.
dpa
Source: Stern
