• Home
  • Post a press-release
  • Visibility packages
  • Subscribe email updates
  • Event Calendar
  • Contact

For Immediate Release | Official News Wire for the Travel Industry

Where press releases are breaking news

  • Home
  • Post a press-release
  • Visibility packages
  • Subscribe email updates
  • Event Calendar
  • Contact

Thomas Cook selling its travel business: Chinese investment fund interested

April 22, 2019 by Forimmediaterelease

Thomas Cook is the world’s oldest tour operator and was founded in Market Harborough in 1841 by businessman Thomas Cook. It started off with organized railway outings for members of the local temperance movement.

The travel company received approaches for parts of its business and the company as a whole, according to reports. The business put its airline up for sale in February and it said last month it would close 21 stores across the country and cut more than 300 jobs.

Chinese investment firm Fosun International could be a bidder for the company’s tour operating business, which runs a joint venture with Thomas Cook in China. It could be months before any formal offer is lodged, and there is no guarantee one will be made.

Thomas Cook now has annual sales of £9bn, 19 million customers a year and 22,000 staff operating in 16 countries.

In September, Thomas Cook said profits would be hit after the summer heat wave saw many take their holidays in the UK. It issued a second profit warning in November, when it said winter bookings were also down.

The shop closures will take the number of Thomas Cook outlets down to 566. It said a consultation with staff and unions had begun.

Travel News | eTurboNews

Share this:

  • Twitter
  • Facebook

Related

Filed Under: Press Release Tagged With: and, annual, bidder, bookings, Breaking Travel News, Business, businessman, China, China Travel News, Chinese, close, closures, company, Cook, countries, country, customers, cut, down, firm, fund, guarantee, Heat, heat wave, hit, holidays, in, In February, interested, International, Investment, issued, IT, Jobs, joint, joint venture, last, local, Market, members, million, million customers, month, months, movement, News articles, November, number, offer, Operating, operator, Outlets, profit, profit warning, profits, railway, received, reports, s, said, sale, Sales, second, selling, September, Shop, staff, started, stores, summer, The World, Thomas, Thomas Cook, to, tour, tour operator, tourism, Tourism Investment News, Travel, Travel & Tourism Organizations News, travel business, travel company, Travelwire News, UK, unions, up, venture, warning, wave, were, winter, World, year

HANDS:Wash them often  ELBOW:Cough into it  FACE:Don’t touch it  SPACE:Keep safe distance  HOME:Stay if you can


Click here to support our hard-working global team and their families!


Search




Recent Articles

  • The St. Regis Almasa Opens Its Doors In Egypt’s New Administrative Capital
  • Royal Palaces reopen from 4 March 2021
  • Thailand sees gradual return of events and festivals with strict COVID-19 controls
  • Coronavirus Disease 2019 (COVID-19) situation in Thailand as of 5 March 2021, 11.30 Hrs.
  • Seychelles opens up to the world
  • Marriott International to Provide Associates Financial Award for COVID-19 Vaccination
  • New Austin Marriott Downtown Brings Inspiring Hospitality Experience to the Heart of the Texas Capital
  • Coronavirus Disease 2019 (COVID-19) situation in Thailand as of 4 March 2021, 11.30 Hrs.
  • Uniglobe marks 40-year anniversary with optimism and future focus
  • Hyatt Announces Global Expansion of Independent Collection Brands with New Hotel Openings and Developments Slated Through 2025

Copyright © 2021 · Metro Pro on Genesis Framework · WordPress · Log in