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{{Short description|Former German travel company}}
{{otheruses|Thomas Cook (disambiguation)}}
{{About|the historical Thomas Cook AG until its merger with MyTravel Group|the now defunct successor company|Thomas Cook Group|other uses|Thomas Cook (disambiguation)}}
{{Use dmy dates|date=October 2019}}
{{Infobox company
| fate = Merged with ]
| name = Thomas Cook ]
| logo = Thomas cook globe logo.svg
| logo_size = 150px
| former_name = C&N Touristic AG
| type = '']''
| foundation = {{start date and age|2001}} (as Thomas Cook AG)<br/>{{start date and age|1997}} (as C&N Touristic AG)<br/>{{start date and age|1841|7|5|df=yes}} (as Thomas Cook & Son Limited)
| defunct = {{end date and age|19 June 2007}}
| successor = ]
| location = ], England, UK
| key_people =
| num_employees =
| parent =
| subsid = ]
| industry = ], ]
| products = Charter and scheduled passenger airlines, ]s, ]s, hotels and resorts
| revenue =
| homepage =
}}


'''Thomas Cook AG''' was an Anglo-German, global travel group. The group had its headquarters in ], and sold products such as package holidays and flights through its 3 in-house airlines. On 19 June 2007, the group merged with ] to form the ], which was listed on the ].
]


==History==
''This article contains historical information about Thomas Cook AG until its merger with My Travel - for the new company see - ]''
]]]
In 2001, ] was acquired by the German company C&N Touristic AG, which changed its name to Thomas Cook ].<ref name=Guardian>{{cite web|url=https://www.theguardian.com/media/2001/may/04/marketingandpr3|title=Thomas Cook in brand revamp|work=The Guardian|date= 4 May 2001|accessdate=25 September 2019}}</ref><ref>{{cite web|url=http://news.bbc.co.uk/1/hi/business/1384497.stm|title=First Choice shakes off winter blues|publisher=BBC|date= 12 June 2001|accessdate=21 September 2019}}</ref>


On 21 December 2005, Thomas Cook AG sold off Thomas Cook International Markets (a venture which includes 60% of the stake in Thomas Cook India Ltd) to Dubai Financial LLC, part of the Dubai Investment Group (DIG) which manages the financial and real estate interests of ], ruler of ]. Following this, Thomas Cook Overseas Limited (a wholly owned subsidiary of Thomas Cook UK) was sold off, this time again to Dubai Financial LLC.<ref name="Gulf News">{{cite web|url=https://gulfnews.com/business/markets/dubai-financial-buys-thomas-cook-divisions-1.248457|title=Dubai Financial buys Thomas Cook divisions|date=4 August 2006|publisher=Gulf News|accessdate=21 September 2019}}</ref>
'''Thomas Cook AG''' was the parent company of ], ] and other such subsidiaries until 12 February 2007 when Thomas Cook AG announced that it had merged with ]. The new combined company was named ].


Thomas Cook Canada was sold to ] in 2006, marking Thomas Cook's exit from the North American market in terms of its own retailer.<ref name="History">{{cite web|url=http://www.transat.com/en/about/history.aspx |title=History |publisher=Transat A.T. Inc |accessdate=21 September 2019}}</ref>
It was originally incorporated on November 1, 1997 as "C&N Touristic AG" but the name was changed following the 2002 acquisition of Thomas Cook. The Group was jointly owned by ] and ], However ] took control of the company two days before Christmas 2006 by buying the half-share owned by ], the German airline. ] paid €800m (£540m), though ] will for at least the next two years retain a stake in ], Thomas Cook's in-house airline in Germany.


On 12 February 2007, Thomas Cook AG announced that it had agreed terms on a merger with ] to form ].<ref>{{cite news |title=MyTravel and Thomas Cook merging |url=http://news.bbc.co.uk/1/hi/6353023.stm |newspaper=BBC News |date=12 February 2007 |accessdate=6 October 2013}}</ref> The merger was completed on 19 June 2007.<ref>{{cite web|url=https://www.bloomberg.com/news/articles/2007-05-29/mytravel-shareholders-approve-planned-merger-with-thomas-cook |title=MyTravel Shareholders Approve Merger With Thomas Cook|date=29 May 2007|publisher=Bloomberg|accessdate=19 October 2019}}</ref>
==Worldwide==
Thomas Cook Worldwide had 5 wholly owned subsidiaries Thomas Cook UK, Thomas Cook Netherlands, Thomas Cook France, Thomas Cook Belgium, Thomas Cook Destinations, along with majority holdings in Condor Flugdienst and TC Touristik. Thomas Cook used to have a franchise agreement in the Middle East - Specifically in the United Arab Emirates through a licensee agreement it had with a local group called the ]. The venture was terminated after The Thomas Cook brand name was sold to Dubai Holdings which planned to use it in the Middle East.


== Operations ==
In the ], Thomas Cook conformed to the model of a 'vertically integrated travel company' operating an airline, a retail arm and also a tour operator. This tour operator division was previously known as Thomas Cook Tour Operations but in early 2006 was restructured as the 'Holidays Division', incorporating the previously separate Thomas Cook Signature brand alongside the Thomas Cook, JMC and Sunset brands. The 'Specialist Products' division included Uptrips (including the ] brand), Style, Neilson Active Holidays and Sunworld Ireland.
{| class="wikitable"
|+Companies within Thomas Cook AG before merger with ]
!Name
!Type
!Country
!Logo
!Fate
|-
|Thomas Cook Tour Operations Limited
|]
| rowspan="4" |United Kingdom
| rowspan="3" |Globe
|Transferred to ] (2007)<ref name=":0">{{cite web|url=https://www.ft.com/content/a5c4380a-ba34-11db-89c8-0000779e2340 |title=Thomas Cook bought by German travel firm|date=12 February 2007|publisher=Financial Times|accessdate=3 November 2019}}</ref>
Entered ] (2019)<ref>{{cite web|url=https://beta.companieshouse.gov.uk/company/03772199 |title=Thomas Cook Tour Operations Limited|date=3 November 2019|publisher=Companies House (HM Government)|accessdate=3 November 2019}}</ref>
|-
|Thomas Cook Retail Limited
|] and website operator
|Transferred to ] (2007)<ref name=":0" />
Entered ] (2019)<ref name=":1">{{cite web|url=https://beta.companieshouse.gov.uk/company/00102630 |title=Thomas Cook Retail Limited|date=3 November 2019|publisher=Companies House (HM Government)|accessdate=3 November 2019}}</ref>
|-
|Thomas Cook Airlines UK Limited
|]
|Merged with ] to form ] (2007);<ref name=":0" /> entered ] (2019)<ref>{{cite web|url=https://beta.companieshouse.gov.uk/company/00102630|title=Thomas Cook Retail Limited|date=3 November 2019|publisher=Companies House (HM Government)|accessdate=3 November 2019}}</ref>
|-
|]
|]
|Independent
|Rebranded as ] (2003)<ref>{{cite web|url=http://www.travelweekly.co.uk/articles/18454/jmc-airline-to-be-rebranded |title=JMC airline to be rebranded|date=27 May 2002|publisher=Travel Weekly|accessdate=3 November 2019}}</ref>
|-
|]
|]
|Belgium
| rowspan="5" |Globe
|Transferred to ] (2007)<ref name=":0" />
Sold to ] (2017)<ref>{{cite web|url=https://www.airliners.de/thomas-cook-belgium-airlines-lufthansa-tochter/41084 |title=Thomas Cook Belgium Airlines to fly for Lufthansa subsidiary|date=30 March 2017|publisher=airliners.de|accessdate=3 November 2019}}</ref>
|-
|Thomas Cook Canada
|] and ]
|Canada
|Sold to ] (2006) <ref name="History"/>
|-
|Thomas Cook International Markets
|] and ]
|Worldwide
|Sold to Dubai Financial LLC<ref name="Gulf News"/>
|-
|Thomas Cook GmbH
|]
|Germany
|Transferred to ] (2007)<ref name=":0" />
Entered ] (2019)<ref>{{cite web|url=https://www.bbc.co.uk/news/world-europe-49824427 |title=Thomas Cook collapse: German company files for bankruptcy|date=25 September 2019|publisher=BBC News|accessdate=3 November 2019}}</ref>
|-
|]
|]
|Germany
|Transferred to ] (2007);<ref name=":0" /> provided with a bridge loan by the German Government after the collapse of Thomas Cook Group (2019)
|}


==References==
In 1999, Thomas Cook AG sold off its worldwide Foreign Exchange business to ] to concentrate only on tours and holidays.
{{Reflist}}
After the market depression, particularly following the ], Thomas Cook AG had started a ] programme by disposing off some of its subsidiaries and business ventures to follow a highly flexible business model and become an asset light company with minimum capital tie up. The business focused on Europe for the sale of ] and tailor-made holidays for customers specific requirements.


{{Authority control}}
On December 21, 2005, Thomas Cook AG, sold off Thomas Cook International Markets, a venture which includes 60% of the stake in Thomas Cook India Ltd to Dubai Financial LLC, a part of the Dubai Investment Group (DIG) which manages the financial and real estate interests of HH Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai. Thomas Cook India, a profitable venture, which offered a broad band of services like package tours, currency exchange and travel insurance besides hotel and flight reservations. Thomas Cook India had been in existence for 124 years and operated 60 offices across various locations. Thomas Cook India had branches in Sri Lanka and Mauritius and reported sales of €23.3 million. After the take over by Dubai Financial LLC, Thomas Cook India took over LKP forex, one of India's leading foreign exchange houses and The Travel Corporation of India (TCI) India's leading travel and tourism corporation.


]
Following this, Thomas Cook Overseas Limited, a wholly owned subsidiary of Thomas Cook UK was sold off, this time again to Dubai Financial LLC. (Thomas Cook Overseas Ltd consisted of 19 travel agencies, 22 currency exchanges in Egypt with 371 employees and during the 2005 business year had a turnover of just under €6 million).
]

Thomas Cook AG soon entered the market again, this time to sell off two more of its subsidiaries - Thomas Cook Thailand and Thomas Cook Middle East both to Dubai Financial LLC. Thomas Cook Middle East consists of the Middle East region, which experienced a boom in travel and tourism, especially in places like Dubai, Qatar, Oman and so on. Thomas Cook Lebanon S.A.L. had started in June 2004 providing travel and financial services. The company also operates a travel agency and a currency exchange in Beirut. Dubai Financials had planned an aggressive expansion strategy for its newly acquired arms. The total deal fetched Thomas Cook approximately 115 million US dollars.

Thomas Cook Canada was sold to ] A.T in 2006, marking Thomas Cook's exit from the North American market in terms of its own retailer.

On 12 February 2007, Thomas Cook AG announced that they had agreed terms on a merger with ]. The merger was subject to shareholders of MyTravel giving their approval at an ]. The parent company of the enlarged group was named ] with its headquarters in the UK and listed in London.<ref>{{cite press release
| title =MERGER OF MYTRAVEL GROUP PLC AND THOMAS COOK AG TO CREATE A LEADING INTERNATIONAL LEISURE TRAVEL COMPANY
| publisher =MyTravel Group plc
| date =2007-02-12
| url =http://www.mytravelgroup.com/AniteNextPage.asp?p=PLCNEWSARTICLE_72348&s=420465291
| accessdate =2007-02-12 }}</ref>

==Companies==

The companies in Thomas Cook AG included:
* ], includes Airtours, Sunset, Manos, Panorama, Escapades, Thomas Cook Signature, Club 18-30, Neilson Active Holidays, Style and Sunworld Ireland.
* ]
* ]
* ]
* ]
* ]
* Thomas Cook TV (went off air, 30th April 2010)

Clearance by the ] was granted on 4 May for the merger of Thomas Cook and Mytravel forming the new Thomas Cook Group PLC (TCG)

==References==
{{reflist}}

]
] ]

]
]
]

Latest revision as of 16:22, 5 July 2022

Former German travel company This article is about the historical Thomas Cook AG until its merger with MyTravel Group. For the now defunct successor company, see Thomas Cook Group. For other uses, see Thomas Cook (disambiguation).

Thomas Cook AG
FormerlyC&N Touristic AG
Company typeAktiengesellschaft
IndustryHospitality, tourism
Founded2001; 23 years ago (2001) (as Thomas Cook AG)
1997; 27 years ago (1997) (as C&N Touristic AG)
5 July 1841; 183 years ago (1841-07-05) (as Thomas Cook & Son Limited)
Defunct19 June 2007; 17 years ago (19 June 2007)
FateMerged with MyTravel Group plc
SuccessorThomas Cook Group plc
HeadquartersRochdale, England, UK
ProductsCharter and scheduled passenger airlines, package holidays, cruise lines, hotels and resorts
SubsidiariesList of subsidiaries

Thomas Cook AG was an Anglo-German, global travel group. The group had its headquarters in Rochdale, and sold products such as package holidays and flights through its 3 in-house airlines. On 19 June 2007, the group merged with MyTravel Group plc to form the Thomas Cook Group plc, which was listed on the London Stock Exchange.

History

A Thomas Cook travel agency in Leeds

In 2001, Thomas Cook & Son was acquired by the German company C&N Touristic AG, which changed its name to Thomas Cook AG.

On 21 December 2005, Thomas Cook AG sold off Thomas Cook International Markets (a venture which includes 60% of the stake in Thomas Cook India Ltd) to Dubai Financial LLC, part of the Dubai Investment Group (DIG) which manages the financial and real estate interests of Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai. Following this, Thomas Cook Overseas Limited (a wholly owned subsidiary of Thomas Cook UK) was sold off, this time again to Dubai Financial LLC.

Thomas Cook Canada was sold to Transat A.T. in 2006, marking Thomas Cook's exit from the North American market in terms of its own retailer.

On 12 February 2007, Thomas Cook AG announced that it had agreed terms on a merger with MyTravel Group to form Thomas Cook Group. The merger was completed on 19 June 2007.

Operations

Companies within Thomas Cook AG before merger with MyTravel Group plc
Name Type Country Logo Fate
Thomas Cook Tour Operations Limited Tour operator United Kingdom Globe Transferred to Thomas Cook Group (2007)

Entered Compulsory liquidation (2019)

Thomas Cook Retail Limited UK travel agent and website operator Transferred to Thomas Cook Group (2007)

Entered Compulsory liquidation (2019)

Thomas Cook Airlines UK Limited UK Charter airline Merged with MyTravel Airways to form Thomas Cook Airlines (2007); entered Compulsory liquidation (2019)
JMC Airlines Limited UK Charter airline Independent Rebranded as Thomas Cook Airlines (2003)
Thomas Cook Airlines Belgium Belgian Charter airline Belgium Globe Transferred to Thomas Cook Group (2007)

Sold to Lufthansa AG (2017)

Thomas Cook Canada Package holiday provider and Tour operator Canada Sold to Transat A.T. (2006)
Thomas Cook International Markets Travel agent and Package holiday provider Worldwide Sold to Dubai Financial LLC
Thomas Cook GmbH Package holiday provider Germany Transferred to Thomas Cook Group (2007)

Entered Compulsory liquidation (2019)

Condor Flugdienst German Charter airline Germany Transferred to Thomas Cook Group (2007); provided with a bridge loan by the German Government after the collapse of Thomas Cook Group (2019)

References

  1. "Thomas Cook in brand revamp". The Guardian. 4 May 2001. Retrieved 25 September 2019.
  2. "First Choice shakes off winter blues". BBC. 12 June 2001. Retrieved 21 September 2019.
  3. ^ "Dubai Financial buys Thomas Cook divisions". Gulf News. 4 August 2006. Retrieved 21 September 2019.
  4. ^ "History". Transat A.T. Inc. Retrieved 21 September 2019.
  5. "MyTravel and Thomas Cook merging". BBC News. 12 February 2007. Retrieved 6 October 2013.
  6. "MyTravel Shareholders Approve Merger With Thomas Cook". Bloomberg. 29 May 2007. Retrieved 19 October 2019.
  7. ^ "Thomas Cook bought by German travel firm". Financial Times. 12 February 2007. Retrieved 3 November 2019.
  8. "Thomas Cook Tour Operations Limited". Companies House (HM Government). 3 November 2019. Retrieved 3 November 2019.
  9. "Thomas Cook Retail Limited". Companies House (HM Government). 3 November 2019. Retrieved 3 November 2019.
  10. "Thomas Cook Retail Limited". Companies House (HM Government). 3 November 2019. Retrieved 3 November 2019.
  11. "JMC airline to be rebranded". Travel Weekly. 27 May 2002. Retrieved 3 November 2019.
  12. "Thomas Cook Belgium Airlines to fly for Lufthansa subsidiary". airliners.de. 30 March 2017. Retrieved 3 November 2019.
  13. "Thomas Cook collapse: German company files for bankruptcy". BBC News. 25 September 2019. Retrieved 3 November 2019.
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