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Bloomberg
German airline Condor will cut about 15% to 25% of its staff in an attempt to slash operating costs amid the ongoing
coronavirus crisis, CEO Ralf Teckentrup told Frankfurter Allgemeine Sonntagszeitung.
The carrier formerly owned by failed travel firm Thomas Cook Group Plc plans to shed “between 650 and 1,000 jobs,†a move Teckentrup said was in line with measures put in place by the competition. Protective shield proceedings adopted before the Covid-19 crisis hit will probably last until the end of September, he said.
The company also plans a move to smaller headquarters, which Teckentrup said he hopes will save about $1.1 million per month. “We no longer need room for employees who worked for our former parent, Thomas Cook,†he said. “In addition, about 10% to 15% of our colleagues will work in the home office on a permanent basis.†Condor has been bailed out by the German government twice, with a state-guaranteed loan of 550 million euros winning EU approval in April.