The German airline Condor, which previously belonged to the bankrupt British travel group Thomas Cook, has reached an agreement with a new owner. The identity of the owner will be announced at a press conference later on Friday.

Prior to the announcement, there has been speculation that several investors, including the Polish airline LOT, have shown interest in becoming owners of Condor.

Condor competes with Lufthansa and TUI Fly, among others, and received a lifeline of the equivalent of SEK 4 billion from the German state when the company began a reconstruction.

Source: TT