Air Transport World

Air Berlin.(EUROPE Report)(Brief article)

Air Berlin withdrew its bid to acquire Condor Airlines from Thomas Cook. The deal was announced last fall. AB was scheduled to acquire 75.1% of Condor next February and the balance in February 2010. Thomas Cook would receive 29.9% of AB worth [euro] 475 million ($755.1 million) plus an additional [euro] 120 million in cash. AB said the transaction was canceled by mutual agreement largely owing to the soaring cost of fuel. The parties will "continue negotiations regarding the feasibility of alternative solutions. …

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