Thomas Cook's Condor airline unit is shedding the unwieldy Thomas Cook Powered by Condor moniker as part of a broader effort to revive the struggling leisure carrier, which has suffered as the inclusive travel market has shrunk in the face of low-cost carriers and the Internet. Operating under the name New Condor, it is entering the low-fare market offering deeply discounted fares to North America, the Caribbean, Africa and Asia. "The tour operator market
has been in decline over the past two years," Ralf Teckentrup, board member at Thomas Cook AG responsible for the group's airlines, said in a statement. "We need a new perspective...This is why we are concentrating increasingly on seat-only sales. We see high growth potential particularly in the budget price segment." The airline, which will continue to operate in the blue Thomas Cook livery, will offer fares beginning at eur29 ($35) to all short- and medium-haul destinations and from eur99 to all long-haul destinations via the Internet. Thomas Cook Group is owned jointly by KarstadtQuelle and Lufthansa.