Fosun to relaunch Thomas Cook

Empty Thomas Cook check-in desk in Gatwick Airport, England
Thomas Cook went into liquidation in September

Fosun is thought to be applying for an Atol licence as it plans to relaunch Thomas Cook as an online travel agent.

The Chinese company acquired the Thomas Cook brand and its IP assets for £11m in November last year.

Fosun had been a shareholder in the company, which was broken up after announcing its liquidation last September.

Fosun told the Hong Kong Stock Exchange, “With a history of 178 years, the Thomas Cook brand is the frontrunner of establishing [the] tourism industry and one of the most well-known tourism brands around the world.

“The acquisition of Thomas Cook as a global brand would enable the group to expand the tour operator business riding on the robust growth momentum of Chinese outbound tourism, leveraging the extensive brand awareness and profound influence of Thomas Cook.

“The introduction of Casa Cook, Cook’s Club, the resort/hotel brands under the Thomas Cook brand would further enrich the offering of accommodation[s] choices for tourism destinations business by the group, diversify its resort and hotel operations and improve the Foliday [aka Fosun Tourism Group] ecosystem in providing customers with quality holiday experience[s] across the globe.”

The Foliday platform focused on families and was part of what the group referred to as its “happiness ecosystem,” which also included Club Med and brewer Tsingtao and French fashion house Lanvin.

The Times reported that Fosun has made former finance executive at Thomas Cook, Raj Sharma, the CFO, with Alan French, who was the group strategy and technology director and Phil Gardner, who was head of sales, e-commerce and marketing, also being re-hired.

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