According to the recently published annual financial statements for the penultimate financial year, the airline is aiming for an increase in turnover of one third to 1.9 billion euros for the period running until the end of September 2023. For the first time since the coronavirus crisis and the insolvency proceedings, Condor wanted to be back in the black operationally. Upon request, the Lufthansa competitor did not disclose whether the forecast was met. "The demand for our product and the development of bookings and prices in the current winter as well as with a view to the 2024 summer season are very positive," said a Condor spokeswoman. "We are right on target here."

Like many others, the airline posted a loss in the 2021/22 financial year. With a turnover of 1.43 billion euros and 6.6 million passengers, the operating loss rose from 63 million euros to 321 million euros. This was due to special factors: On the one hand, costs that had risen sharply with kerosene prices could only be partially recouped through ticket prices. Secondly, there were special write-downs on aircraft, as Condor is investing heavily in fleet renewal. According to the report, Condor has set itself the target of increasing its operating profit for the current 2023/24 financial year and aims to carry nine million passengers, roughly the same number as before the coronavirus pandemic. Achieving this is the task of the new airline CEO Peter Gerber, who will take over from the retiring Condor veteran Ralf Teckentrup in February.

(Report by Ilona Wissenbach and Klaus Lauer, edited by Ralf Bode. If you have any queries, please contact the editorial team at frankfurt.newsroom@thomsonreuters.com)