It was nearly a year ago when the then British business Thomas Cook Group Plc ceased to trade after failing to secure final terms on its recapitalisation and reorganisation. Six weeks later, the brand and its intellectual property assets were sold to Shanghai-based Fosun Tourism Group for £11 million.
Last December, Bloomberg reported on the new owner’s supposed plan for a 2020 (first half) comeback for the famed Thomas Cook name. That period has obviously passed, and now a Sky News exclusive is saying a relaunch could be just around the corner.
According to the new report, Thomas Cook is poised to be reincarnated as an online travel agent as early as this month. The timing, however, relies on the receipt of required regulatory approvals, among other things.
Earlier this year, over-50s travel and insurance group Saga Plc revealed having to record a £4 million charge related to Thomas Cook’s collapse. The fall of the holiday giant, operations of which included an airline, also saw the UK insurance industry take on a barrage of scheduled airline failure insurance claims.
This time around, it was noted, Thomas Cook’s new form will not be involving an air carrier.