FRANKFURT, Dec 6 (Reuters) - German airline Condor plans to
more than double operating profit margin, its chief executive
said, hoping to lure in potential investors that will take it
over following the collapse of its parent Thomas Cook.
Condor, which filed for investor protection proceedings -
which requires that a business can still be saved - made
adjusted earnings before interest and tax (EBIT) of 57 million
euros ($63 million) in the last fiscal year.
Its adjusted EBIT margin stood at about 3.4%, compared with
7.9% at larger rival Lufthansa.
"Healthy airlines need an 8% EBIT margin. That's also a
reasonable target for Condor," Condor Chief Executive Ralf
Teckentrup told Reuters.
($1 = 0.9073 euros)
(Reporting by Ilona Wissenbach; Writing by Christoph Steitz;
Editing by Tassilo Hummel)