Thomas Cook merges flight operations

Travel company Thomas Cook has said the merger of its flight operations, Condor Flugdienst and its wholly owned subsidiary Condor Berlin, will be completed on May 1st and from that point Flugdienst will include all Condor Berlin flight operations.

Travel company Thomas Cook has said the merger of its flight operations, Condor Flugdienst and its wholly owned subsidiary Condor Berlin, will be completed on May 1st and from that point Flugdienst will include all Condor Berlin flight operations.

As such, the fleet of Condor Berlin, consisting of twelve Airbus A320-200 aircraft and one Airbus A321-200, will be integrated into the operations of Flugdienst.

Christoph Debus, joint Chairman of Thomas Cook Group Airlines said: "This is an important step in delivering the group Airlines strategy, as we continue to create one airline segment, as well as a major contribution in terms of cost effectiveness within the group."

The move is being carried out to allow the company to take advantage of synergies to reduce complexity and costs and will develop the airline business.

Condor Berlin will continue to exist as a maintenance company in Berlin performing maintenance activities on the Airbus fleet as part of the Thomas Cook Group Maintenance Organisation (GMO).

The share price rose 1.145 to 133p by 10:10 on Monday.

NR

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?
Bitcoin

“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?

Dogecoin – a cryptocurrency created as a joke – has risen by more than 9,000% this year alone. Saloni Sardana looks at how something that began as an …
19 Apr 2021
China owns a lot more gold than it’s letting on – and here’s why
Gold

China owns a lot more gold than it’s letting on – and here’s why

In a world awash with money-printing, a currency backed by gold would have great credibility. And China – with designs on the yuan becoming the world’…
21 Apr 2021
Why investment advice could be about to get a lot cheaper
Investment strategy

Why investment advice could be about to get a lot cheaper

Vanguard, the world’s second-biggest asset manager, is launching its own cut-price financial advice service. It’s something the industry badly needs, …
20 Apr 2021