{"id":11270,"date":"2020-01-22T07:20:33","date_gmt":"2020-01-22T07:20:33","guid":{"rendered":"http:\/\/pulseonline.co\/?page_id=11270"},"modified":"2020-01-27T09:09:31","modified_gmt":"2020-01-27T09:09:31","slug":"thomas-cook-india-reiterates-that-it-is-a-completely-separate-entity-from-thomas-cook-uk-post-acquisition-in-2012-by-canada-based-fairfax-financial-holdings","status":"publish","type":"page","link":"http:\/\/pulseonline.co\/index.php\/thomas-cook-india-reiterates-that-it-is-a-completely-separate-entity-from-thomas-cook-uk-post-acquisition-in-2012-by-canada-based-fairfax-financial-holdings\/","title":{"rendered":"Thomas Cook India Reiterates That it is a Completely Separate Entity from Thomas Cook UK, Post Acquisition in 2012 by Canada-Based Fairfax Financial Holdings"},"content":{"rendered":"<p style=\"text-align: center;\"><strong><span style=\"color: #000000;\">Clearing All Doubts and Misconceptions!<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>With the\u00a0 developments relating to the iconic British Travel\u00a0Company, Thomas Cook PLC, being reported in the media, it is imperative to highlight that the\u00a0 Thomas\u00a0Cook India Group is a completely different entity since August 2012, when it was acquired by\u00a0Fairfax Financial Holdings (Fairfax), a Canada based multinational with varied interests across the\u00a0globe as well as in India.<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Post transfer of its entire stake in Thomas Cook (India) Limited to Fairfax, Thomas Cook UK ceased to be\u00a0the promoter of Thomas Cook (India) Limited from the said date and since then, Thomas Cook UK has had\u00a0no stake in Thomas Cook (India) Limited. The last seven years have been fruitful as we continue to grow\u00a0and build our legacy as an independent entity after Fairfax Financial Holdings acquired a 77 percent stake in Thomas Cook India Ltd. (TCIL) in 2012.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Thomas Cook (India) Ltd. is a leading integrated transnational travel and travel related services company\u00a0offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure\u00a0Travel, Insurance, Visa and Passport services and E-Business. It operates leading B2C and B2B brands\u00a0including Thomas Cook, SOTC, Sterling Holidays, TCI, SITA, Asian Trails, Allied T Pro, Australian Tours\u00a0 Management, Desert Adventures, Travel Circle International Limited, Travel Junkie (Ithaka), Digiphoto Entertainment Imaging (DEI), Private Safaris East &amp; South Africa &#8211; across 29 countries, making it one of the largest travel companies in the Asia Pacific region.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">We believe that it is important that we clarify for the record that Thomas Cook (India) Limited is financially strong, profitable and maintains a positive outlook in the travel and tourism sector and continues to witness strong growth.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The Thomas Cook India Group\u2019s cash and bank deposits balances stand at Rs. 13,890 Mn. as of June 30, 2019.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">On a standalone basis, Thomas Cook India is debt free upon pre-payment of Rs. 670 Mn debenture obligations ahead of schedule. This has been made possible using stable and strong cash flows that the Thomas Cook India Group is generating year over year.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The Group generates an average annual free cash flow of around Rs. 2500 Mn.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">That should reassure everyone and clear all apprehensions!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Clearing All Doubts and Misconceptions! With the\u00a0 developments relating to the iconic British Travel\u00a0Company, Thomas Cook PLC, being reported in the media, it is imperative to highlight that the\u00a0 Thomas\u00a0Cook India Group is a completely different entity since August 2012, when it was acquired by\u00a0Fairfax Financial Holdings (Fairfax), a Canada based multinational with varied interests&#8230; <\/p>\n<div class=\"link-more\"><a href=\"http:\/\/pulseonline.co\/index.php\/thomas-cook-india-reiterates-that-it-is-a-completely-separate-entity-from-thomas-cook-uk-post-acquisition-in-2012-by-canada-based-fairfax-financial-holdings\/\">Read More<\/a><\/div>\n","protected":false},"author":8,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/pages\/11270"}],"collection":[{"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/comments?post=11270"}],"version-history":[{"count":4,"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/pages\/11270\/revisions"}],"predecessor-version":[{"id":11823,"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/pages\/11270\/revisions\/11823"}],"wp:attachment":[{"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/media?parent=11270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}