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Condor is retiring its Boeing 757 three years earlier than planned
Actually, the last leasing contracts for the holiday airline's Boeing 757 do not expire until 2028.
But Condor is accelerating the phasing out.
This also leads to depreciation.
01/11/24 - 4:31 p.m.
Actually, the leasing contracts for Condor's Boeing 757 do not expire until 2026 and 2028 .
But according to the 2021/22 annual report published in the Federal Gazette,
the holiday airline is saying goodbye to medium-haul jets earlier.
They are scheduled to be phased out as early as 2025.
Condor told aeroTELEGRAPH that the information in the annual report still applies.
“We currently have eleven Boeing 757s in the fleet,
two of which are in reserve.”
Depreciation due to previous discontinuation
With sales of 1.4 billion euros, the airline had an operating loss of 321 million euros in 2021/22.
Unscheduled depreciation also contributes to this, resulting, among other things,
from the earlier phase-out of the Boeing 757.
The airline had actually expected to return to the black for the 2022/23 financial year, which ended in September 2023.
Condor does not want to say whether this is still relevant given the high kerosene prices and volatile developments on the market.
“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,”
it said to the Reuters news agency.