Thomas Cook India not affected by British firm’s collapse, confirms company

By Bhartendu Sharma  Published on  23 Sep 2019 3:20 PM GMT
Thomas Cook India not affected by British firm’s collapse, confirms company

Delhi: The 187-year-old travel agency Thomas Cook ceased operations on September 22, leaving as many as 22,000 without jobs and almost 1,50,000 tourists stranded.

The tourism giant’s board said on September 23 that it had no choice but take steps to enter into compulsory liquidation with immediate effect. This after their talks on a financial rescue failed. All Thomas Cook bookings have been cancelled, the UK Civil Aviation Authority said in a tweet.

However, Thomas Cook India has stated that it has not been affected. It is an entirely different entity as Fairfax Financial Holdings, a Canada based multinational, had acquired it via a 77% stake in 2012.

In a statement by Madhavan Menon, Chairman and Managing Director of Thomas Cook India, he said, “With the recent developments relating to the iconic British Travel Company, Thomas Cook PLC, it is imperative to highlight that Thomas Cook India Group is a completely different entity. It has been since August 2012, when the company was acquired by Fairfax Financial Holdings (Fairfax).”

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