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@Avalon.red

Thomas Cook shares fly high over Lufthansa bid

by LLB Reporter May 7, 2019

written by LLB Reporter 7^th May 19 12:30 pm

In early morning trading shares in Thomas Cook soared more than 12%, after German airline Lufthansa is bidding for the Condor airline business.

A non binding offer from Lufthansa is to be made for Thomas Cook’s Condor business, which is based near Frnakfurt, said Carsten Sphor, chief executive of Lufthansa.

He further said that one buyer might not be allowed to buy the whole of Cook’s airlines over competition concerns.

Speaking at the Lufthansa annual general meeting Sphor said, “We decided yesterday in the meeting of the management board to bid for all of Condor with the option to be able to extend this [bid] to all Thomas Cook airlines.”

Shares in Thomas Cook were 12% higher at 23p.