LTU actually has nothing to do with LH
, Condor is the one that is connected to LH
(50% owned by them, the other half is held by KarstadtQuelle Group).
LTU is a part of the LTU Group and flies mainly for their operations on short haul routes (LTU, Tjaereborg, Jahn Reisen, ...) - on long haul routes they also do a lot of flying for TUI, because TUI's airline here (Hapag Lloyd) doesn't operate long haul any more.
They were, at one point, sold to - who would've guessed - to the airline that bought just about everything available: Swissair/SAirGroup...
When Swissair went south, LTU was sold back to - if I recall correctly - WestLB (who is also a big shareholder in the tour operator part of the company), with around 40% being owned by Rewe Touristik (who, I think, are now the majority owners of the tour operator part of the company).
That's about what I can remember...
Oh, and they are not an LCC, although some charter operators here in Germany are actually making (or at least trying) that line disappear: Air Berlin operates a number of routes under the banner of "City Shuttle", connecting several cities that are not typical package tour destinations here (i.e. flights from Hamburg to Vienna).
But LTU is, at least for now, not going down that route - even if they've had massive cost reductions (well, if they hadn't done that, we'd be talking about that former airline LTU - they wouldn't exist anymore) and have introduced quite flexible oneway-based fares.
Ok, I think I'll stop for now - before this post gets too long...