The Thomas Cook group of airlines will add four Airbus A321 aircraft to its fleet in 2019.
Of those additions, two A321s will initially join Germany’s Condor fleet for the 2019 summer flight schedule, before being permanently placed with Thomas Cook Airlines UK “from winter 2019/20”.
At Condor, the two A321s will be based in Leipzig and Hannover, respectively. In Leipzig, formerly a key airport for now-defunct Germania, Condor is significantly increasing capacity with around 100,000 additional seats.
The fourth A321 to join the fleet this year will enter service with Thomas Cook Airlines UK.
“Using additional aircraft of our own is another measure to live up to our quality promise next summer, even during the high season,” said Thomas Cook Group chief airline officer Christoph Debus. “With the additional aircraft, the Group has further reserves available and has hired additional personnel on the ground and in the air. As part of an internal project, numerous other measures were implemented to ensure stable flight operations in the summer of 2019,” Debus added.
Thomas Cook’s finances have raised concerns over the past six months. Net debt at 31 December 2018 was £1.58 billion ($2.1 billion). The group says it has kept a “healthy level of liquidity headroom” over the important winter cash-low period, maintaining a minimum buffer within its targeted range of £150 million to £200 million.
Thomas Cook issued two profit warnings in two consecutive months last year after the summer heatwave hit passenger demand.
In February, the UK airline and holiday specialist said it was reviewing sale options for its airline business to give the group more financial flexibility. It added it was at an "early stage" in the review process and considering all options as part of the strategic review.
The vast majority of the group’s fleet of 98 aircraft has been sourced from leasing firms. The most recent addition – an A321 – is on lease to the group from AviaAM. The four aircraft to join this year will be on operating lease from multiple lessors.
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