Creditors' meeting approves Condor protective shield plan, allows for PGL takeover of bridging loan

Condor Flugdienst announced (12-Mar-2020) a protective shield plan was approved during a creditors' meeting held on 12-Mar-2020, enabling the carrier to leave protective shield proceedings "in the coming weeks". The plan allows for Polish Aviation Group (PGL) to take over the airline as well as the bridging loan granted to Condor by the German government, which "will be repaid on time". Condor CEO Ralf Teckentrup commented: "The acceptance of our plan for a sustainable and profitable future for Condor is an important milestone for our customers and partners and, of course, for our employees". [more - original PR - English/German]