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The return of Thomas Cook, Fosun's new OTA in Europe

Thomas Cook is reborn as an online travel agency one year after the British company went into bankruptcy.

The new online travel agency, owned by the Chinese conglomerate Fosun, will sell tour packages just online and by phone, for the moment only to destinations authorized by the Foreign Office. The new company employs 50 people, compared with 9,000 employees for the former group in the UK alone.

Due to the limitations currently established in the UK market, the OTA will begin to offer beach destinations and city breaks in Italy, Greece and Turkey, within established safe corridors. Transfer services and car rental will also be offered.

Fosun Tourism Group, also owner of Club Med, has decided to keep the famous Thomas Cook's logo ("Sunny Heart").

Thomas Cook UK CEO Alan French said:

We have reinvented one of the most famous names in the British travel industry. Our new company combines fantastic UK-based customer service with a modern operating model protected by ATOL and supported by a multi-millionaire organization. We are now embarking on the process of realizing the challenges posed by the pandemic in the short term. We and our Fosun Matrix have a long term vision and want to offer options, customization, 24/7 travel support to families who want to travel now and in the future.

Atol is a program of the United Kingdom Civil Aviation Authority to provide financial protection to those who have acquired package tours and flights from a member tour operator.

Jim Quian, President and CEO of Fosun Tourism Group, said :

Thomas Cook has a proud heritage and, after acquiring the brand last year, we wanted to return it quickly to its home in the UK; Supporting the brand's growth in China and its re-launch in the UK is a major step forward in our plan to re-establish Thomas Cook as a global success and a key step in the development of Fosun Tourism Group's strategy.

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