Frankfurt, 6 November 2025 — Condor Airlines, one of Germany’s leading charter carriers, is currently in a significant phase of strategic evaluation with its majority investor, Attestor Capital, looking at options for the future of the airline, including partial sale. In an interview with Reuters, Condor Chief Executive Peter Gerber confirmed that the investment firm had hired Barclays to help determine a suitable strategic route forward as the airline comes to a crossroads in its ownership and growth path.

“Attestor recently initiated a process to identify strategic options for Condor,” Gerber told Reuters, adding that the airline remains committed to expanding its operations and continuing investments in service and fleet capabilities. The chief executive said the airline needs to maintain momentum on growth initiatives, especially with upcoming financial obligations to the German state.

Attestor Capital took a 51% stake in Condor from the German government in 2021 after the collapse of its former parent, Thomas Cook. At the time, the government had bailed out Condor and then provided further pandemic-related support to steady the carrier. The strategic review currently under way comes at a time when Attestor is considering how best to use its position, while Condor requires investment and long-term stability.

Industry observers point out that this review could involve not just equity adjustments but may also open the door to strategic partnerships. Recently, Bloomberg reported that Attestor is weighing finding a partner for its aviation holdings, which include Condor and Marabu Airlines. Though Attestor has declined to comment publicly on these developments, the engagement of Barclays indicates the seriousness of the strategic evaluation.

Financially, Condor expects to repay state aid given by the German development bank KfW by the end of 2026. The plan for repayment is an important element in setting strategic perspectives for the airline, potentially coinciding with Attestor’s option to acquire the remaining stake still held by the government at a pre-agreed price. Gerber added that the investment currently undertaken by the airline, together with the strategic guidance of its investors, would further strengthen Condor’s competitive position within the European aviation market.

The airline’s strategic direction, therefore, is particularly relevant in a context where the German aviation industry is still recovering from the economic disruptions of the pandemic. Charter airlines, such as Condor, play an important role in the sector as their leisure and seasonal travel markets across Europe cater to high demand. Ensuring operational resilience, fleet modernization, and customer satisfaction are key priorities the management team is currently focused on during this review period.

Gerber also commented on the challenges of maintaining flexibility in business operations. “It is important for Condor that it can continue to invest as much as possible and expand its reach,” he commented, which underscores a commitment to growth and resource use with strategic positioning of the airline despite potential changes in ownership structure.

According to market analysts, the strategic review might affect Condor’s partnerships, route planning, and investment in sustainable aviation practices. With European airlines increasingly moving towards fuel-efficient aircraft and environmentally responsible operations, Condor’s next steps could have wider implications for the sector’s competitiveness and sustainability initiatives.

Interest among key stakeholders, particularly employees, travel partners, and customers, is likely to be high in the process that unfolds. Any change in ownership may bring opportunities for business growth but also calls for an adequate approach toward operational continuity and stability of manpower. Condor Airlines currently stands at a crossroad, while Attestor Capital actively weighs strategic options and CEO Peter Gerber advances the business through investment and growth.

The future of the airline, to be materially influenced by new partnerships or shifts in ownership stakes, will be crucial with respect to its positioning in the European travel market. In moving through this crucial juncture, it is how Gerber and his team balance imperatives for strategic flexibility with ongoing investment in operations and financial obligations that will set the course for Condor in an increasingly competitive skies.