Thomas Cook has announced the sales of its stake in Thomas Cook India to a Canadian investor, for £94 million. The group said it had reached an agreement to sell its 77% interest in Thomas Cook India to Fairbridge Capital (Mauritius) Limited. As part of the deal, it has granted Fairbridge a licence over the Thomas Cook brand for 12.5 years in the countries in which Thomas Cook India still operates.
With the European economy flat at best, offloading assets is one of Thomas Cook’s few options for slowing its rising losses.
The Escalating Standards of Luxury and 10 Other Hospitality Trends This Week
New Insights Deck: A Hotelier’s Guide to the Future of Hospitality Merchandising
This German Startup Aims to Have a Fleet of Jet-Powered Flying Taxis by 2025
Mozambique Tourism Looks Beyond Cyclone Kenneth and 4 Other Tourism Trends This Week
Amazon Launches Flight Bookings in India and 11 Other Digital Trends This Week