Thomas Cook Group has shelved plans to merge its German charter airline Condor with Air Berlin.
The two companies this morning informed the German Cartel Office that the current application for approval of the proposed merger is being withdrawn.
Thomas Cook said it continues to view Condor as a strong business with significant potential. It will continue its discussion with Air Berlin about the “feasability” of an “alternative transaction”.
However, it admitted it is looking at other options for Condor and has decided to suspend its share buy-back programme.
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