Chinese conglomerate and investment company, Fosun, which bought the Thomas Cook brand for £11m after its collapse in November 2019, is making plans to relaunch the international travel company.
Fosun is planning to create a new Thomas Cook, that will be solely an online travel agent. According to reports, this could happen by the end of October.
Fosun was once earmarked as a potential saviour for the troubled tour operator before it went into administration – however, last-ditch rescue talks failed in September/October last year. Fosun also acquired Casa Cook and Cook’s Club hotel brands as part of the deal.
When the acquisition was completed, Fosun’s Chairman Qian Jiannong, said: “The acquisition of the Thomas Cook brand will enable the group to expand its tourism business building on the extensive brand awareness of Thomas Cook and the robust growth momentum of Chinese outbound tourism.”
Since the deal was complete, the outbreak of the coronavirus pandemic has completely devastated the leisure and tourism industry across the world. However, Thomas Cook’s relaunch would not operate its own airline, high street shops or hotels.
Fosun/Thomas Cook have, so far, declined to comment on reports regarding the completion date of the relaunch.