Fosun reportedly ready to bring back Thomas Cook as an OTA

Fosun reportedly ready to bring back Thomas Cook as an OTA

SHANGHAI — Fosun International, the China-based conglomerate that owns the Thomas Cook brand, is reportedly getting ready to relaunch Thomas Cook online.

It will be a radically streamlined presence for the legendary brand, with no airplanes, resorts or retail agencies. Fosun also owns Club Med.

When Thomas Cook Group plc, the previous parent company, filed for insolvency in September 2019, it stranded some 600,000 travellers in vacation destinations around the world.

 The beleaguered company’s fate had been in the balance for months and it failed to secure an extra 200 million pounds, on top of a 900 million pound rescue package already received, to survive. Lenders turned them down, including Fosun, at that time one of the company’s major shareholders.

When it collapsed Thomas Cook had a fleet of 105 aircraft, plus 550 travel agencies, and 200 hotels. As a retailer and a tour operator it had been out of the Canadian market for years, but it was once a major presence here.

Fosun is said to be waiting on getting an ATOL license for the new Thomas Cook from Britain’s Civil Aviation Authority (CAA). According to reports, Fosun is looking to have the OTA up and running in time for the winter holiday season.

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