Skift Take
Kuoni died, and now Thomas Cook, even though the jury is out if it's just the UK business or continental Europe or the Nordic operations as well. Thomas Cook's tour operating market in its glory days practically made Asia tourism, so many across the region are mourning this loss, reconciling themselves with the fact that nothing lasts forever.
The collapse of Thomas Cook Group is having ripple effects in Asia, where the British company was a pioneer in tourism.
Even though it shares the name, Thomas Cook India immediately issued a statement reiterating that it is a completely separate entity from Thomas Cook Group following its acquisition by Canada-based Fairfax Financial Holdings in August 2012.
Over in China, Fosun Tourism Group’s spokesperson, Bo Chen, told Skift that its China business “is to be maintained.” Fosun holds the majority stake in Thomas Cook China, a joint venture with Thomas Cook Group, and the word it wants to put out now is the China outfit has been operating independently of the UK-based partner.
“Thomas Cook China, which is majority owned by Fosun Tourism Group, notes with regret that Thomas Cook Group plc has been placed into insolvency in the UK," according to a statement from Thomas Cook China. "Thomas Cook China has a strong financial position and is unaffected by today's events. We wish to stress that all our business and operations continue as normal. Thomas Cook China continues to benefit from the longterm commitment of the Fosun Tourism Group."
Chen, however, did not comment on Skift’s question about the impact on an agreement between Fosun and
