Surprisingly, well established companies are giving away. Can we call it poor management decisions or trying to gain market share by giving heavy discounts. Team Thomas Cook needs to do an introspection as raising hands may not be the solution. So, many people are going to loose their jobs, however Indian entity of Thomas Cook is spared from the ordeal.
Thomas Cook (India) Group is an entirely different entity since August 2012 when it was acquired by Fairfax Financial Holdings (Fairfax), a Canada based multinational investment company.
Post the transfer of its entire stake in Thomas Cook (India) Limited to Fairfax, Thomas Cook UK ceased to be the promoter of Thomas Cook (India) Limited and since then, Thomas Cook UK has had no stake in Thomas Cook (India) Limited.
"The last seven years have been fruitful as we continue to grow and build our legacy as an independent entity after Fairfax Financial Holdings acquired a 77 per cent stake in Thomas Cook India Ltd. (TCIL) in 2012," Thomas Cook India said in a statement.
Thomas Cook (India) Group is an entirely different entity since August 2012 when it was acquired by Fairfax Financial Holdings (Fairfax), a Canada based multinational investment company.
Post the transfer of its entire stake in Thomas Cook (India) Limited to Fairfax, Thomas Cook UK ceased to be the promoter of Thomas Cook (India) Limited and since then, Thomas Cook UK has had no stake in Thomas Cook (India) Limited.
"The last seven years have been fruitful as we continue to grow and build our legacy as an independent entity after Fairfax Financial Holdings acquired a 77 per cent stake in Thomas Cook India Ltd. (TCIL) in 2012," Thomas Cook India said in a statement.
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