Polish airline LOT said Monday that it would abandon its plans to take over German carrier Condor, a former subsidiary of bankrupt travel operator Thomas Cook.

LOT had announced in January, before the coronavirus crisis pummelled the air travel sector, that it would buy the airline for an undisclosed amount.

The deal was to have been finalised by April, but a LOT spokeswoman told Polish news agency PAP on Monday that the firm had informed Condor that the purchase was being cancelled.

"At this state, we're not providing any other information," said the spokeswoman, Katarzyna Majchrzak.

German public investment bank KfW last year granted Condor a 380-million-euro ($419 million) bridging loan after Thomas Cook declared bankruptcy, which is slated to be paid back later this year.

Founded in 1956, Condor had 58 planes and employed 4,900 people when it declared bankruptcy, carrying 10 million passengers per year to destinations in the Mediterranean and the United States among others.

LOT, which has a fleet of 80 aircraft, doubled its passenger count over four years to hit the 10 million mark last year.