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Thomas Cook is selling bonds to help get itself out of debt
DestinationsThomas Cook Group Plc, the 172-year- old U.K. tour operator, started marketing a sale of 525 million euros ($676 million) of bonds as part of a package to refinance the equivalent of $2.4 billion of debt. The company is selling seven-year bonds that are callable after three years and they may be priced to yield [...]
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Faltering Thomas Cook’s digital gurus want Google Glass to save it
DigitalPondering the digital opportunities for Thomas Cook, Mr Straw also talks about a future where the company might use technologies such as Google Glass, which embeds a screen, camera, microphone and other sensors into a pair of futuristic spectacles. Holidaymakers could then use such specs to record and share their Thomas Cook holidays, he says. [...]
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The consortium behind UK’s air traffic control system wants to unload stake
TransportSeveral major airlines have joined talks to sell their stake in Britain’s £1bn national air traffic controller, in concert with Thomas Cook and TUI Travel. The two tour operators are part of a seven-strong consortium that owns 42pc of the part-privatised National Air Traffic Services (Nats), but recently decided to go it alone and find [...]
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A struggling Thomas Cook to divest North American travel businesses
DigitalThomas Cook Group has sold its North America travel businesses to Red Label Vacations for £3.4 [about $5.1] million. The sale includes Thomas Cook Canada and Thomas Cook USA, which are together known as Thomas Cook North America (TCNA). TCNA operates a tour operator and distribution network in Canada. TCNA also owns ABC Corporate Services [...]
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Famous last words? Thomas Cook CEO says Thomas Cook is back
SkiftXHarriet Green arrived at Thomas Cook with the business in turmoil and suggestions it might go bust. She tells Andrew Cave how she is turning the firm around. ‘I’m a little hyper,” confesses Harriet Green, which is probably not a bad quality for the chief executive of the troubled travel group, Thomas Cook. The world’s [...]
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Thomas Cook CEO: Future is “more Apple than travel”
SkiftXThomas Cook CEO Harriet Green insists she is committed to maintaining a strong retail network, although in the future the shops will be “more Apple than travel”. She insists the Thomas Cook brand will grow, she repeatedly states that it “won’t shrink to greatness”, but to do that she’s prepared to chop away the excess. [...]
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Thomas Cook’s plan: More disposals and consolidating confusing array of brands
DestinationsThomas Cook Group Plc, the U.K. tour operator, plans to raise as much as 150 million pounds ($224 million) from disposals and may expand ties with low-cost carrier EasyJet Plc to gain airliner capacity. Another 50 million pounds have been added to a savings plan to bring profit improvement to 350 million pounds, Chief Executive Officer [...]
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Thomas Cook to likely sell brands, as CEO to unveil new strategy this week
SkiftXLuxury travel agent Elegant Resorts and long-haul specialist Gold Medal are among the brands that could be put up for sale by Thomas Cook as the new chief executive, Harriet Green, unveils her revival strategy this week, according to analysts. The two businesses, acquired by Thomas Cook in 2008, are among a cluster of brands, [...]
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Thomas Cook to cut 2500 jobs, close about 200 stores
DestinationsTravel firm Thomas Cook said it would cut 2,500 jobs from its UK workforce and close 195 stores in Britain as part of its plans to restructure the business. The 172-year-old group has struggled over the last two years with a slump in sales leading to a string of profit warnings, forcing it to renegotiate [...]
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Thomas Cook’s genius idea on ensuring digital future: A committee
Digital“When in trouble, create a committee.” Someone related to Scott Adams may have whispered this in jest to troubled-but-in-turnaround British travel group Thomas Cook‘s management’s ears, and lo behold, there is one. The company has created a 12 person internal and external “digital advisory board” (or the “cool” moniker DAB) from across tech/digital spectrum, to [...]
