CONDOR FLUGDIENST, Lufthansa's charter subsidiary, is to add to its growing portfolio of interests in tour operators, with a decision to take stakes in two more travel agencies.
Condor will acquire all of Dusseldorf-based Fischer Reisen in 1996, and is taking a 10% stake in Hamburg-based Oger Tours, Germany's top agent for travel to Turkey. It has also received supervisory board approval to increase its stake in Turkish airline SunExpress, from 40% to 49%.
The latest investment in tour operators follows the 1995 acquisition of a 37.5% share in Kreutzer Touristik and a 30% stake in Alpha holding, with its subsidiary Air Marin Flugreisen.
The acquisitions are part of broader moves towards consolidation of Europe's growing holiday market. Condor expects to show a 6.2% increase in passenger volume for 1995, taking the total to 6 million. Sales are forecast to rise by a similar amount, to reach a record DM2 billion ($1.4 billion).
Source: Flight International