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Report: Apollo, Greybull, LOT interested in Thomas Cook's Condor airline

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Report: Apollo, Greybull, LOT interested in Thomas Cook's Condor airline

Buyout firms Apollo Global Management Inc. and Greybull Capital LLP as well as LOT Polish Airlines SA will submit their final bids for Thomas Cook Group PLC's Condor airline in the week of Jan. 20, Reuters reported Jan. 16, citing a person familiar with the matter.

The source reportedly said the three bidders could each team up with some tour operators in Germany to purchase the German airline.

Condor and Apollo declined to comment on the matter, the report added. Greybull and LOT were not immediately available for comment.

Condor secured a €380 million bridge loan from Germany in order to stay afloat after its parent, Thomas Cook, fell into liquidation in September 2019.

The airline noted in November 2019 that it was receiving a high level of acquisition interest from strategic and financial investors after it said it was open to having a new owner.