Frankfurt District Court opens insolvency proceedings against Condor

Germany's Frankfurt District Court opened (02-Dec-2019) insolvency proceedings against Condor Flugdienst, with Dr Lucas Flöther appointed as provisional administrator. Condor applied for protective shield proceedings in late Sep-2019, with operations to continue as normal during insolvency proceedings, as previously reported by CAPA. The airline intends to re-establish itself through a restructuring plan with a new owner and without the insolvent former parent company Thomas Cook Group. The opinion of the provisional administrator confirms the debtor's intended restructuring process has "prospects of success". [more - original PR - German]