“Thomas Cook” resurrected a year after bankruptcy: what is the new “Thomas Cook”

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Bankrupt British tour operator Thomas Cook is back on the internet today after being bought by the Chinese conglomerate Fosun (Fosun Tourism Group) for 11 million British pounds after being declared bankrupt a year ago, AFP reported. .

The travel company declared bankruptcy after 178 years of existence. It owned a network of agencies, planes and hotels. The new “Thomas Cook”, which has retained the golden-yellow logo in the shape of the heart of its predecessor, will offer organized trips only online and by phone.

The new company has 50 employees compared to 9,000 in the old group in the UK alone.

Alan French, former strategic and technology director of the previous group, has been appointed CEO for the UK.

“What happened last year was a personal tragedy for thousands of my former colleagues, our partners and, of course, for our loyal customers,” he said in a statement. “The sustainability of this brand testifies to the dedication and professionalism of our former colleagues,” he added.

“Thomas Cook” suddenly declared bankruptcy on September 23, 2019 due to lack of funds after another attempt to recapitalize. This prompted an unprecedented large-scale operation to bring home 150,000 people from vacations around the world.

Many customers have encountered serious difficulties in getting their money back for reservations.

Alan French today promises that customers of the new “Thomas Cook” can be sure that their money is protected thanks to the solid financial structure of the company.

“Thomas Cook” offers travel only to destinations that do not require quarantine for British citizens after their return home – Italy, Turkey and some parts of Greece. There will be no charge for changing the reservation.

The tour operator is resurrecting in the midst of a crisis in the tourism sector, one of the worst affected by the coronavirus pandemic, AFP notes.

What is the new company

China’s Fosun paid £ 11m for Thomas Cook’s trademarks; Websites and social media accounts are again licensed by the Civil Aviation Authority (CAA), and users are protected by the authorities – by the state-owned Atol protection scheme (Atol protection – Air Travel Organizer’s License).

The new business model will be built on commissions collected from flight, hotel and car rental transactions.

The website began selling holiday destination packages on the government’s safe travel corridor list today, Wednesday, September 16th.

Half of Fosun’s staff are former Thomas Cook employees, including many of the senior team, as well as technical and customer support specialists, the BBC reported.

The staff is currently working from home. The company rented office space, but found that as an online company launched in the midst of the coronavirus pandemic, working from home proved to be a better option.



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