Hello! You are viewing your 1 free guest article this week


Please log in or join now for free, immediate and unlimited access to our award-winning online content. Find out more...

Join us
Already a member? Log in here

Travel industry news

02 May 2019

BY James Chapple

Share
TRFBLI

Thomas Cook 'sets deadline for expressions of interest in airline'

Thomas Cook has reportedly set a 7 May deadline for expressions of interest in its airline business, Reuters reports.

thomas cook airlines
Sharelines

Thomas Cook 'sets deadline for expressions of interest in airline'

Cook placed its airline business up for sale in February after its first quarter loss grew £14 million to £60 million.


At the time, a Cook spokesperson told TTG the business was open to full or partial offers for the group airline.


Thomas Cook Airline Group comprises Thomas Cook Airlines in the UK and Condor in Germany, as well as Scandinavian and Spanish divisions.


Chief executive Peter Fankhauser said Cook “didn’t need to own an airline outright to be a successful holiday company”.


Fresh speculation around the sale of Cook’s airline business comes amid reported expressions of interest in its tour operation too.


Chinese investor Fosun International has been touted as a potential suitor, and this week increased its stake in Cook to 18% after joining forces with the company in 2016 to launch Thomas Cook China.


Citing sources close to discussions around the sale of Cook’s airline, Reuters reports Cook wants all expressions of interests in by 7 May.


“Likely bidders”, said Reuters, include German carrier Lufthansa and US private equity investor Indigo Partners, which holds stakes in several airlines globally.


Cook’s focus, meanwhile, has turned to its digital channels and its own-brand hotel operation. It plans to close a further 21 stores this year, reducing its high street retail network to 566 and placing more than 300 jobs at risk.


Cook has so far declined to comment on speculation around the sale of its tour operation and airline when approached by TTG.

Add New Comment
Please sign in to comment.
Show me more

Follow Us



Twitter
LinkedIn
Facebook
Instagram
YouTube
Soundcloud
TTG Media Limited.
Place of registration: England and Wales.
Company number 08723341.
Registered address: New Bridge Street House, 30-34 New Bridge Street, London EC4V 6BJ
Scroll To Top