September 25, 2019 / 10:23 AM / 25 days ago

EU says it is in close contact with Germany over Condor loan

FILE PHOTO: An airplane with the logo of air carrier Condor by Thomas Cook is seen at the airport in Frankfurt, Germany, September 24, 2019. REUTERS/Kai Pfaffenbach

BRUSSELS (Reuters) - The European Union antitrust regulator said on Wednesday it was in close contact with the German authorities regarding a proposed loan to German airline Condor.

“The Commission is in close and constructive contacts with the German authorities regarding the proposed loan to Condor,” a spokeswoman for the EU executive commission said in a statement.

The German government said on Tuesday it would guarantee a 380 million euro ($418 million) bridging loan for Condor to keep it flying.

Condor and Thomas Cook GmbH, the second-biggest tour operator in Germany after TUI, are both independent units of insolvent British parent company Thomas Cook.

Reporting by Peter Maushagen, writing by Philip Blenkinsop; editing by Francesco Guarascio

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