Saturday,  January 23, 2021  12:21 pm

Fosun looking to relaunch Thomas Cook online: report

  • Air
  •   09-10-2020  11:07 am
  •   Pax Global Media
Fosun looking to relaunch Thomas Cook online: report
Pax Global Media

Thomas Cook may have a new lease on life as Fosun Tourism is reportedly moving to launch an online booking platform linked to the brand, soon.

The Shanghai-based hospitality group bought Thomas Cook’s intellectual property out of UK bankruptcy last year.

The company is trying to target UK travellers as COVID-19 case counts subside, a report suggests

READ MORE: Thomas Cook folds, thousands left stranded

Fosun, which also owns Club Med, is waiting on some stability in the UK government rules on travel restrictions before it launches the new platform. 

The outcome would mark a different way of doing business for 178-year-old Thomas Cook Group Plc, which filed for insolvency in September 2019 after a £750 million recapitalization plan assembled in July fell through.

The collapse, in turn, stranded some 600,000 travellers in destinations around the world.

The legendary brand, which once upon a time had a strong presence in Canada, had a fleet of 105 aircraft, some 550 travel agencies, and 200 hotels at the time of its folding. 

The closure marked the end of one of Britain’s oldest companies, which got its start in 1841 by running local rail excursions in England.

The company had been struggling for years due to an increase in competition from budget airlines and the convenience of booking low-cost accommodations online. 

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