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Thomas Cook: You Know Your Stuff!

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Thomas Cook’s poor position on the stock market would be an understatement – it’s a catastrophe. The shares were worth only EUR 0.0514 on Tuesday after the close of trading, a further minus of more than five percent. No one knows exactly what will happen to the battered London tourism group. The oldest tour operator in the world could soon be majority-owned by a Chinese conglomerate. It was said at the beginning of July, that the Chinese conglomerate Fosun showed interest. And the CEO of Thomas Cook confirmed this on a very special trip.

One of the most important destinations

The Thomas Cook boss, Peter Fankhauser, met the new Greek tourism minister Haris Theoharis in Athens. Greece, of all places, should know its way around precarious financial situations. It was also Theoharis’ first contact with a manager from the international tourism sector. Fankhauser had not only assured that Greece was still one of the most important destinations for the Thomas Cook Group – but he also spread confidence.

He convinced the Minister

The CEO of Thomas Cook informed the Minister about the Group’s recapitalization plans according to the reports. The reports also state that he is already in talks with Fosun Tourism about a cash investment of around 750 million British pounds. He apparently convinced the Minister: Fankhauser had explained the situation of the company to him in detail and “assured me that Thomas Cook will remain one of the world’s leading companies in the tourism sector”, twittered Theoharis. Thomas Cook had recently implemented several new hotel and holiday concepts in Greece, including the first Casa Cook on Kos and the first Casa Cook for families in Chania on Crete.


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