Condor Airlines, a popular German-based leisure carrier, continues to operate even as its parent company Thomas Cook Airlines has gone insolvent, canceling flights and stranding passengers worldwide.
So how is the airline able to keep operating? And how does it affect you if you have a ticket? Here are four things to know about Condor's situation and how it might affect your travels.
How is Condor able to keep flying?
Thomas Cook Airlines is Condor's parent company and owns 49% of the carrier. Thomas Cook is a U.K.-based airline and Condor is its German subsidiary. It hasn't experienced the financial problems that the U.K. division has and is largely seen as the profitable arm of the company.
In a release issued Sept. 23, Condor said its cash flow is positive, with earnings of about $47 million (43 million euros) reported during the 2017-2018 fiscal year. It expects to announce increased earnings when the 2018-19 fiscal year closes Sept. 30.
Condor says it has been promised $419 million from the German government and the state of Hesse to meet its cash needs for six months. Condor head Ralf Teckentrup called the promised bridge financing “an important step to secure our future.”
The company says the European Commission would evaluate whether the state support would be allowed before the money can be paid out.
What does this mean for my Condor flight?
The airline continues to operate as scheduled, with more than 240,000 people traveling on its 58 aircraft, according to a release from the company.
"I assure you that we will do everything in our power to ensure that our fleet continues to bring our guests reliably to their holiday destinations all over the world and back home as usual. Just as our guests have been accustomed to for 64 years," Teckentrup said in an emailed statement Monday afternoon.
Still, if you have a Condor ticket, check your credit card or travel insurance policy to see what it covers should a problem arise.
Condor continues to book tickets. However, it recommends customers buy travel cancellation insurance when they book.
Some credit cards include travel protection and some don't. Check the fine print of yours to see if you need to purchase a separate insurance policy to protect you if your flight is canceled.