European Commission Approves $420 Million Loan to Condor

German carrier Condor has been approved a €380 million Euros ($420 million) loan by the European Commission to be used for the carrier’s restructuring and pathway for economic viability, following the demise of its parent company Thomas Cook. The loan, provided by German state-owned bank KfW, is subject to the commission’s guidelines on rescue and restructuring aid. This mechanism allows EU member states to support companies undergoing financial difficulties, where its sustainability is a matter of common interest.  However, these…