With great dismay the trade union DHV has took notice of the insolvency of the British Tourism group Thomas Cook and now also the German subsidiary, the Thomas Cook GmbH. In a letter they have asked the Federal Minister of Economics to grant financial aid for the German Thomas Cook GmbH and Condor Luftdienste GmbH.
The DHV welcomes the financial aid promised by the federal government and the state of Hessen amounting to € 380 million for Condor Luftdienste GmbH. With the financial aid not only the flight operations in the short term will be secured, but it will further allow the company a perspective of existence and continuation. This is good news for Condor employees. Because through this their jobs are secured for the time being.
A second bankruptcy as with Air Berlin Germany will then be prevented for the time being. The consequences would be a significant reduction in flight options and a significant increase in ticket prices in the area of the package tourism.
The commitment of the financial aid for the Condor Luftdienste GmbH is only a part of the necessary rescue package. The DHV continues to uphold its demand for financial aid also for the German Thomas Cook GmbH. Because in contrast to the British Parent company the German subsidiary was profitable and made profits in recent years, which, however, they had to transfer to the British parent company. There these disappeared in the immense debt mountain. The bankruptcy of the German Thomas Cook GmbH now opens the possibility of a restructuration and a continuation as independent companies. The chances of success are according to the estimation of the DHV present.
With the help of federal state support to successful restructuration of the German Thomas
Cook GmbH around 2.100 jobs would be secured. A serious loss to the business location Oberursel, where the headquarter of the company is located, would be being averted for the time.
For Condor Luftdienste GmbH, the long-term security of Thomas Cook GmbH would also be important, as it has so far contributed significantly to good capacity utilization. It would be difficult for the Condor to compensate otherwise for the permanent loss of flight utilization provided by Thomas Cook GmbH.