Can Thomas Cook’s Surviving Brands Find New Homes?
Photo Credit: A Condor aircraft. The airline is looking to secure its future. Thomas Cook
Skift Take
Thomas Cook wasn't just a UK business: It had operations across Europe, some of which were pretty profitable. They're now in a race against time to secure their future and find new owners.
The collapse of Thomas Cook in the early hours Monday saw the downfall of one of the biggest names in travel but some of its smaller brands continue to live on.
Through a series of mergers and acquisitions, it had built up a mini-empire of tour operators and airlines that once stretched over the globe with outposts in North America and India.
In recent times, however, the key divisions outside the UK were in central Europe and Scandinavia and some of these businesses are still doing business — at least for the moment.
“They are separate legal entities set up in their respective jurisdictions,” said Joanna Kolatsis director at legal consultancy Themis Advisory.
A similar situation happened when XL Leisure Group collapsed in 2008 and XL Airways France continued operating (ironically, the airline sought bankruptcy protection on the same day Thomas Cook went under.)
Profitable Businesses
According to its most recent annual report, Thomas Cook had tour operators in 14 di
