United Kingdom
United States
Asia Pacific
Thomas Cook India shares hit after UK business collapses
Thomas Cook (India) Ltd was once again forced to communicate its independence from the now collapsed UK travel giant of the same name.
Ever since UK based Thomas Cook Plc started showing signs of financial stress, the India business has been at pains to inform the media and its customers that it is a separate entity and in no way affected.
It has been separate since 2012 when Thomas Cook (India) Ltd was acquired by Canada based Fairfax Financial Holdings, after a Thomas Cook UK sold a 77% stake.
According to the Indian company’s chairman and managing director Madhavan Menon, that deal gave it the right to use the Thomas Cook brand name until 2024.
However, Menon told Business Today it could ditch the name ealier than planned due to the negativity swirling around the one-time parent company right now.
"As per the original agreement we lose use of the brand name at the end of 2024. We have a detailed transition plan in place, which is ready for execution" he said.
"It’s important to wait and see how this pans out. We will do a detailed review over the next couple of weeks and decide what we want to do."
In the past few days Thomas Cook (India) has been on a communication blitz firing out media statements to ensure customers are fully aware the Indian company is not in financial trouble, however it still led to a decline in its share price.
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