United Kingdom
United States
Asia Pacific
Thomas Cook circled by potential bidders
Chinese firm Fosun International is being tipped as a front runner for control of tour operator and airline group Thomas Cook.
Fosun operates a Chinese joint venture with UK based Thomas Cook and raised its stake in the business earlier this year to just over 17%.
Fosun is now the largest single shareholder. Thomas Cook has reportedly received approaches from suitors for the business but no formal offers have been made yet.
The world’s oldest tour operator put its airline business up for sale earlier this year and recently announced it will close 21 travel agency stores across the UK.
Thomas Cook has an annual turnover of more than £9 billion but issued a second profit warning last year due to weak demand for overseas holidays..
Its share price has plunged 80% in the past year.
Thomas Cook has indicated all options are on the table as it pins its hopes on investments in owned hotels, which have generally been more profitable.
Fosun also owns Club Med after paying more than $1 billion for the French resort group in 2015.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
EU airports bring back 100ml liquid rule
British Airways passengers endure 11-hour 'flight to nowhere'
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Co-pilot faints, easyJet flight issues ‘red alert’
Gatwick braces for strike