Thomas Cook shares boost as Turkish travel tycoon swoops in

Friday, 01 Aug, 2019 0

Thomas Cook shares have shot up on the news that Turkish holiday tycoon Neset Kockar has bought a 6.71% stake in the business.

The company’s shares rose from a lowly 4.47p to 5.56p yesterday when the news was announced to the London Stock Exchange.

They rose further this morning to around 7.1p as the City absorbed the news.

However, Thomas Cook’s shares are still well below the 87.9p they were worth this time last year.

Kockar is founder and owner of the Anex Tourism group of companies which operates in Russia, Ukraine, Kazakhstan and Germany, and also as Orex Travel in the Czech Republic, Slovakia and Poland.

The group also operates 26 Boeing aircraft with three different airline companies in Russia, Ukraine, and Germany under the Azur Air brand.

In total, Anex Tour takes about three million holidaymakers a year to destinations in Europe, the Middle East, Asia and the Caribbean.

The company also has a number of hotels in Turkey as well as hotel investments in Cyprus, Egypt, Vietnam and Thailand.

Kockar’s investment in Thomas Cook follows news last month of a major restructure of the group following a further £750 million cash injection from its biggest shareholder, Chinese investor Fosun.

Fosun, which also owns Club Med, intends to increase its 18% stake in Thomas Cook to become a majority stake holder in its tour operating arm and a minority shareholder in its airline, subject to regulatory approval.

below social share icons

Linsey McNeill

Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk

The superpower in bed banks for 30 years We are an award-winning and trusted accommodation wholesaler since 1991. We are...

Virtuoso is the leading global network of agencies specializing in luxury and experiential travel, with more than 20,000 advisors. We...

Celebrating its 30-year anniversary in 2022, Regent Seven Seas Cruises® offers guests An Unrivaled Experience® with every luxury included. Carrying...

SAINT LUCIA IS NO ORDINARY ISLAND Equal parts beauty and mystique, Saint Lucia captivates anyone who sets foot on her...

The Jamaica Tourist Board (JTB), founded in 1955, is Jamaica’s national tourism agency based in the capital city of Kingston....

Welcome to Qatar Airways Qatar Airways is proud to be one of the youngest global airlines to serve all...

AXA Assistance specializes in best-in-class cost containment, health and travel services. Over 60 years of experience combined with a US and...

A state like no other. A place known for togetherness, celebration and happiness. In Louisiana, we call it “joie de...

Located in the Mediterranean and connecting Asia and European continents that are separated by the famous Bosphorus, Türkiye is a...

Chargebacks911 offers scalable solutions that are customized for any business of any size in any industry. With the flexibility to...

Family-owned Olympic Holidays has been arranging holidays to Greece, the Greek islands and Cyprus for more than half century. The company is unrivalled...

Since 1932, P&O Cruises has offered Aussies and Kiwis the opportunity to take to the seas and have the holiday...

ITB Asia, Asia’s Leading Travel Trade Show, is an annually held B2B trade show and convention for the travel industry; it is designed...

Discover Punta Gorda/Englewood Beach, also known as the Charlotte Harbor Gulf Island Coast. This natural wonderland is nestled in the...

We are a small-group adventure travel operator offering more than 750 tours in 100 countries, on all seven continents. Our...

Jet2.com is the UK’s third largest airline, flying from ten UK airports to more than 60 destinations across Europe and beyond....

Intrepid Travel is a world leader in sustainable experience-rich travel that has been taking travellers to discover the world’s most amazing places...