{"id":119840,"date":"2019-09-26T00:00:00","date_gmt":"2019-09-25T21:00:00","guid":{"rendered":"https:\/\/rhn.ro\/thomas-cooks-german-division-files-for-insolvency-for-reorganization\/"},"modified":"2026-03-27T15:22:24","modified_gmt":"2026-03-27T13:22:24","slug":"thomas-cooks-german-division-files-for-insolvency-for-reorganization","status":"publish","type":"post","link":"https:\/\/rhn.ro\/en\/thomas-cooks-german-division-files-for-insolvency-for-reorganization\/","title":{"rendered":"Thomas Cook’s German Division Files for Insolvency for Reorganization"},"content":{"rendered":"
The German division of the British tourism and travel group Thomas Cook filed for insolvency on Wednesday to separate its brands and operations from the parent company, announcing that it is in discussions with potential investors.<\/div>\n
<\/div>\n
The German government is analyzing a request for a bridge loan from Thomas Cook Germany, a day after announcing it would guarantee a bridge loan worth EUR 380 million for Thomas Cook’s German airline operator, Condor.<\/div>\n
<\/div>\n
The Thomas Cook Group went bankrupt last week, triggering the largest repatriation operation in British history and a struggle for survival for many of the group’s divisions.<\/div>\n
<\/div>\n
The German state of Hesse, which is also providing financial support to the operator Condor, announced on Wednesday that it will analyze the request for financial assistance from Thomas Cook GmbH and will discuss the issue with the federal government.<\/div>\n
<\/div>\n
The Prime Minister of Hesse, Volker Bouffier, stated that support would be possible if he were certain of the company’s good prospects.<\/div>\n
<\/div>\n
Condor and Thomas Cook GmbH, the second-largest tour operator in Germany after TUI, are independent divisions of the parent company Thomas Cook. Condor is expected to undergo insolvency proceedings under its own administration to avoid being involved in the liquidation of the parent company. Christoph Debus, director of Thomas Cook Airlines, which includes Condor, stated that the German operator is selling tickets as usual and hopes to compensate for the 20% of business that came from vacations sold by Thomas Cook.<\/div>\n
<\/div>\n
Thomas Cook Germany announced that it filed for insolvency to restructure its business in an orderly manner and continue profitable activities. A German court could appoint a liquidator.<\/div>\n
<\/div>\n
Thomas Cook Germany, which serves about 3 million clients per year, indicated that it was affected by the parent company’s problems and the impact of Brexit on operations in Germany. The company has been in contact with the German Foreign Ministry, insurers, and other partners to bring clients home. Zurich Insurance, which insured Thomas Cook Germany for insolvency, will cover the costs for those currently on vacation. <\/div>\n
<\/div>\n
Thomas Cook Austria, which belongs to the German division, also filed for insolvency on Wednesday with the aim of continuing its activity.<\/div>\n

Source: Profit<\/a><\/p>\n

Frequently Asked Questions<\/h3>\n

Why did Thomas Cook Germany file for insolvency?<\/strong><\/p>\n

The division filed for insolvency to separate its brands and operations from the bankrupt British parent company and to facilitate an orderly restructuring process.<\/p>\n

What is the status of the Condor airline?<\/strong><\/p>\n

Condor is operating independently with a EUR 380 million bridge loan guarantee from the German government, aiming to avoid the liquidation process of the parent group.<\/p>\n

Are customers protected against the insolvency?<\/strong><\/p>\n

Yes, Zurich Insurance covers the costs for travelers currently on vacation, and the company is working with the German Foreign Ministry to ensure safe returns.<\/p>\n","protected":false},"excerpt":{"rendered":"

The German division of the British tourism and travel group Thomas Cook filed for insolvency on Wednesday to separate its brands and operations from the parent company, announcing that it is in discussions with potential investors. The German government is analyzing a request for a bridge loan from Thomas Cook Germany, a day after announcing…<\/p>\n","protected":false},"author":0,"featured_media":67803,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2858],"tags":[],"thb-sponsors":[],"class_list":["post-119840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tourism"],"article_style_override":"","post-style":"","post_via":"","post-top-image":"https:\/\/rhn.ro\/wp-content\/uploads\/2019\/11\/turism-2.jpg","_links":{"self":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/119840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/comments?post=119840"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/119840\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/67803"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=119840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=119840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=119840"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=119840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}