The collapse of Thomas Cook in the UK has no impact whatsoever in terms of ownership, business, people, technology or processes to us at Thomas Cook India: Madhavan Menon, chairman & managing director, TCIL.
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.
Post transfer of its entire stake in Thomas Cook (India) Limited (TCIL) to Fairfax, Thomas Cook UK ceased to be the promoter of Thomas Cook (India) Limited from August 2012 and since then, Thomas Cook UK has had no financial or business stake in Thomas Cook (India) Limited.
Madhavan Menon, chairman & managing director, TCIL reiterated, “In light of Monday’s media reports regarding the collapse of Thomas Cook PLC in the UK, it is important that I categorically reiterate that it is business as usual for Thomas Cook India which is a completely independent entity.
“The collapse of Thomas Cook in the UK has no impact whatsoever in terms of ownership, business, people, technology or processes to us at Thomas Cook India.”
Thomas Cook collapse, however, hit shares of Indian company it once owned.
Photograph: Kai Pfaffenbach/Reuters
