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Thomas Cook brand bought by China's Fosun Tourism

11/04/2019| 10:26:07 AM| 中文

Thomas Cook collapsed after an ambitious expansion plan to compete with online travel agencies. Ironically, it is being reported that the relaunched Thomas Cook will be an online-only agency.

One of the world’s oldest travel agency is making a comeback.

The Thomas Cook company will return to business later this month after its brand name was purchased by another agency, Chinese firm Fosun Tourism, also the owner of Club Med.

Fosun, which holds a major stake in Thomas Cook, had its bid approved when it guaranteed to buy the agency for GBP 11 million or roughly USD 14.2 million.

Thomas Cook collapsed after an ambitious expansion plan to compete with online travel agencies. Ironically, it is being reported that the relaunched Thomas Cook will be an online-only agency.

Fosun's buyout includes the takeover of the brand name, along with hotel brands Casa Cook and Cook's Club.

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TAGS: Thomas Cook | Fosun Tourism | travel agency
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