Air Berlinâ€™s takeover of Condor has TUI, Lufthansa scrambling
Lufthansa and TUI are forced to reconsider their strategic options following last monthâ€™s surprise deal involving Air Berlin, Condor and Thomas Cook group. Under the arrangement, Air Berlin will take control of Condor in two steps in 2009 and 2010, while Condor majority owner Thomas Cook will be compensated with Air Berlin shares totaling up to a 29.99% stake in the airline. The new conglomerate will be a major competitor for Lufthansa in the German air transport market and a serious ...
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