BERLIN (Reuters) - Polish carrier LOT is buying German airline Condor, which used to belong to Thomas Cook, three sources familiar with the matter said on Friday.
Condor and LOT declined to comment.
Earlier on Friday, Condor - which competes with Lufthansa (DE:LHAG) and TUI fly (DE:TUIGn) - announced it would hold a news conference at 1000 GMT to present its new owner.
Last week, a person close to the matter said Condor had attracted interest from buyout groups Apollo (N:APO) and Greybull as well as LOT, which had been expected to submit final bids this week.
Unlike Thomas Cook, which collapsed last year, Condor received a lifeline from Germany in the form of a 380 million euro (321.06 million pounds) bridging loan and filed for investor protection proceedings, which requires that a company is not yet insolvent and can be saved.
As it seeks to cut costs, Condor last week struck a deal with its flight attendants on plans to cut 150 of its 2,400 cabin jobs. That followed an earlier deal to cut 170 jobs in overhead operations.
