Thomas Cook India Reiterates that it is a Completely Separate Entity from Thomas Cook UK

AHEAD OF the financial turmoil, travel and leisure firm Thomas Cook (India) Ltd made it clear on Saturday that it is not related to the UK based Thomas Cook PLC which is struggling with a financial collapse.

The company stressed that it is a completely separate entity from Thomas Cook PLC and is owned by Canada based Fairfax Holdings. Thomas Cook UK transferred its entire stake to Fairfax Financial Holdings in 2012 and since then it has ceased to be the promoter of Thomas Cook (India) Ltd.

“With the recent developments relating to the iconic British Travel Company, Thomas Cook PLC, being reported in the media, it is imperative to highlight that Thomas Cook India Group is a completely different entity since August 2012 when it was acquired by Fairfax Financial Holdings (Fairfax), a Canada based multinational with varied interests across the globe as well as in India,” the company said in a statement.

Fairfax Holdings acquired 77 per cent stake in Thomas Cook (India) Ltd in 2012. Since then the company has been growing and building its legacy as an independent entity. Thomas Cook (India) Ltd offers a broad spectrum of travel-related services including Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa and Passport services and E-business.