Struggling British holiday firm Thomas Cook is looking to sell its profitable charter airline Condor, with a German businessman among those interested, a German magazine reported on Wednesday.
Thomas Cook is working on a restructuring after turning to its banks twice for a rescue last year and has already announced plans to sell its Indian subsidiary to reduce its debt.
Manager Magazin reported Hans Rudolf Woehrl, who has run airlines and clothing businesses, was looking at Condor.
"We've made no secret of the fact that Condor would appeal to us," the report cited him as saying.
Thomas Cook declined to comment while its restructuring was still ongoing. "Until that process is complete we cannot prejudge the outcome," a spokeswoman said.
Thomas Cook has debt of GBP£890 million (USD$1.4 billion) and the sale of its 77 percent stake in Thomas Cook India would only reduce that by about USD$194 million at its current share price.
Germany-based Condor not only provides seats for Thomas Cook package holidays, but also sells to other tour operators and directly to the public.