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Thomas Cook Group

Thomas Cook Group
Public
Traded as LSE: TCG
Industry Hospitality, tourism
Predecessor Thomas Cook & Son
Thomas Cook AG
MyTravel Group plc
Founded 2007
Headquarters Peterborough, Cambridgeshire, England
Area served
Global
Key people
Peter Fankhauser (CEO)
Products Charter and scheduled passenger airlines, package holidays, cruise lines, hotels and resorts
Services Travel agencies
Revenue £8,588 million (2014)[1]
£323 million (2014)[1]
£(115) million (2014)[1]
Number of employees
22,672 (2014)[1]
Subsidiaries Thomas Cook Retail
Thomas Cook Airlines
Condor
Hotels4u
Website .com.thomascookgroupwww

Thomas Cook Group plc is a British global travel company listed on the London Stock Exchange. It was formed on 19 June 2007 by the merger of Thomas Cook AG, itself the successor to Thomas Cook & Son, and MyTravel Group plc. It is a constituent of the FTSE 250 Index.

At the time of the merger, 52% of the shares in the new company were held by the German mail-order and department store company Arcandor (the former owner of Thomas Cook AG) and 48% owned by the shareholders of MyTravel Group. Arcandor filed for bankruptcy in June 2009,[2] and its shares in Thomas Cook were sold in September 2009.[3]

The group owns a number of tour operators, as well as charter airlines based in the United Kingdom, Belgium and Scandinavia. Thomas Cook also owns the scheduled airline Condor and booking website Hotels4u.

Contents

  • History 1
    • Formation 1.1
    • 2000s 1.2
    • 2006 Carbon monoxide poisoning 1.3
  • Ownership 2
  • Operations 3
  • Sponsorship 4
  • See also 5
  • References 6
  • External links 7

History

Formation

In February 2007, it was announced that the Thomas Cook AG and MyTravel Group plc were to merge. The companies announced they expected to make savings of over £75 million a year, following the integration of both businesses. Under the terms of the merger, the owners of Thomas Cook AG, KarstadtQuelle (later Arcandor), owned 52% of the new group. The shareholders of MyTravel Group owned the remaining 48% share.[4] The merger was completed in June 2007,[5] and took place through the formation of 'NewCo' which effectively purchased MyTravel and Thomas Cook and was then listed on the London Stock Exchange under the name of Thomas Cook Group plc.[6]

2000s

On 14 February 2008, Thomas Cook bought booking website Hotels4U.com for £21.8 million.[7] On 6 March 2008, the company bought back its licence to operate the Thomas Cook brand in the Middle East and Asia from the Dubai Investment Group for an amount estimated to be around 249 million euros.[8] In April 2008 Thomas Cook bought the luxury travel firm Elegant Resorts from its founders Geoff Moss and Barbara Catchpole for an undisclosed figure.[9] The company took over Preston-based Gold Medal International, owner of NetFlights, in a deal worth £87 million in December 2008.[10]

On 8 March 2009 Thomas Cook signed a deal with Octopus Media Technology to host, upload, and provide an online video player for Thomas Cook TV.[11] In Spring 2009 Thomas Cook UK signed a deal with International Entertainment Supplier The E3 Group, to exclusively supply entertainment to the group.[12]

In June 2009, Thomas Cook's majority shareholder Arcandor filed for bankruptcy, although the group was not affected.[2] Arcandor's shares in Thomas Cook were sold by its creditor banks in September 2009.[3]

In July 2010, Thomas Cook Group bought German tourism company Öger Tours, which was owned by Vural Öger.[13]

A Thomas Cook travel agency in Leeds, West Yorkshire showing the old logo.
A Thomas Cook travel agency with current logos in Cross Gates, Leeds.

It was announced on 8 October 2010 that Thomas Cook Group was to merge its branch network with that of The Co-operative Travel to create the UK's largest travel network. The deal will see the new network 70%-owned by Thomas Cook and 30%-owned by Co-operative Travel.[14] Thomas Cook's Going Places branded branches were rebranded under the Co-operative's brand.[15]

On 22 November 2011, Thomas Cook shares lost about three quarters of their value on the London Stock Exchange after the company announced it was in talks with its banks about increasing borrowing by some £100 million but the shares recovered somewhat the following day. There were also reports that the company was planning to close 200 of its 1,200 travel agencies and foreign exchange offices.[16]

In May 2012, Harriet Green was appointed as the chief executive officer of Thomas Cook Group,[17] succeeding Manny Fontenla-Novoa who was CEO from 2003 until August 2011. On 1 July 2013, Thomas Cook announced that it would cease publishing the Thomas Cook European Timetable, along with closure of the rest of its publishing business. The final edition of the timetable was published in August 2013.[18]

In February 2014 Thomas Cook Group sold Gold Medal Travel including Netflights.com to dnata for a reported £45 million.[19]

On 26 November 2014, it was announced that Green was leaving with immediate effect, and that Peter Fankhauser, the COO would take over as CEO.[20]

2006 Carbon monoxide poisoning

In October 2006, two young British children, Christianne and Robert Shepherd aged seven and six years old respectively, died from carbon monoxide poisoning while on a holiday in Corfu booked through Thomas Cook.[21] They were the first such deaths in the company’s history.[22] Two Thomas Cook employees were subsequently amongst 11 defendants facing manslaughter by negligence charges at a criminal trial in Greece in 2010 – both were acquitted and the company was cleared of any wrongdoing.[23]

In 2015, a UK inquest was held into the children’s deaths and some employees of the company exercised their legal right to decline to respond to questions put to them during the course of the inquest.[24][22] The jury returned a verdict of unlawful killing and concluded that the travel group had “breached its duty of care”.[25][26]

After the inquest, The Mail on Sunday published a news story saying that Thomas Cook had received £3m from the owners of the hotel where the children’s deaths had occurred, and the dead children’s parents criticism of the company and its handling of the accident were widely reported in the British press.[27] In response, Thomas Cook made a charitable donation of £1.5m to Unicef. However, the children’s family said that they had not been consulted about this donation, which itself became the subject of criticism.[28] In UK newspaper The Independent Joanna Bourke wrote: "Nothing Thomas Cook could ever do would bring back the two children killed by carbon monoxide poisoning on a Greek holiday in 2006. But the firm’s handling of the case has been a lesson in how not to manage a crisis".[27]

Ownership

Thomas Cook Group plc's three major shareholders as of October 2013 were Invesco (11.9%), Marathon Asset Management (4.12%) and Kames Capital (3.14%). The remainder of the stock floats freely.[29]

Operations

Thomas Cook Group operates in five main divisions, UK, Central Europe, German airlines, West Europe and Northern Europe.[30]

With a joint fleet, at merger, of 97 aircraft, 2,926 stores, 32,722 employees, and over 19.1 million annual customers, the new group became the second largest travel company in Europe and the UK, behind TUI Travel.[31]

The refusal by Thomas Cook to pay statutory EU compensation to customers who have been cancelled or delayed, means that there is a substantial liability accruing on the Airline's balance sheet.[32]

Sponsorship

Thomas Cook has been a main sponsor of Manchester City and Peterborough United football clubs. On 22 May 2009, Manchester City announced that the six-year partnership with Thomas Cook would conclude at the end of the 2008/09 Premier League Season.[33]

Thomas Cook was a sponsor of the London 2012 Olympic Games. As one of the UK's biggest and most popular providers of package holidays, Thomas Cook was appointed to provide "affordable and accessible" holidays and accommodation throughout the games.[34]

See also

References


-- Module:Hatnote -- -- -- -- This module produces hatnote links and links to related articles. It -- -- implements the and meta-templates and includes -- -- helper functions for other Lua hatnote modules. --


local libraryUtil = require('libraryUtil') local checkType = libraryUtil.checkType local mArguments -- lazily initialise Module:Arguments local yesno -- lazily initialise Module:Yesno

local p = {}


-- Helper functions


local function getArgs(frame) -- Fetches the arguments from the parent frame. Whitespace is trimmed and -- blanks are removed. mArguments = require('Module:Arguments') return mArguments.getArgs(frame, {parentOnly = true}) end

local function removeInitialColon(s) -- Removes the initial colon from a string, if present. return s:match('^:?(.*)') end

function p.findNamespaceId(link, removeColon) -- Finds the namespace id (namespace number) of a link or a pagename. This -- function will not work if the link is enclosed in double brackets. Colons -- are trimmed from the start of the link by default. To skip colon -- trimming, set the removeColon parameter to true. checkType('findNamespaceId', 1, link, 'string') checkType('findNamespaceId', 2, removeColon, 'boolean', true) if removeColon ~= false then link = removeInitialColon(link) end local namespace = link:match('^(.-):') if namespace then local nsTable = mw.site.namespaces[namespace] if nsTable then return nsTable.id end end return 0 end

function p.formatPages(...) -- Formats a list of pages using formatLink and returns it as an array. Nil -- values are not allowed. local pages = {...} local ret = {} for i, page in ipairs(pages) do ret[i] = p._formatLink(page) end return ret end

function p.formatPageTables(...) -- Takes a list of page/display tables and returns it as a list of -- formatted links. Nil values are not allowed. local pages = {...} local links = {} for i, t in ipairs(pages) do checkType('formatPageTables', i, t, 'table') local link = t[1] local display = t[2] links[i] = p._formatLink(link, display) end return links end

function p.makeWikitextError(msg, helpLink, addTrackingCategory) -- Formats an error message to be returned to wikitext. If -- addTrackingCategory is not false after being returned from -- Module:Yesno, and if we are not on a talk page, a tracking category -- is added. checkType('makeWikitextError', 1, msg, 'string') checkType('makeWikitextError', 2, helpLink, 'string', true) yesno = require('Module:Yesno') local title = mw.title.getCurrentTitle() -- Make the help link text. local helpText if helpLink then helpText = ' (help)' else helpText = end -- Make the category text. local category if not title.isTalkPage and yesno(addTrackingCategory) ~= false then category = 'Hatnote templates with errors' category = string.format( '%s:%s', mw.site.namespaces[14].name, category ) else category = end return string.format( '%s', msg, helpText, category ) end


-- Format link -- -- Makes a wikilink from the given link and display values. Links are escaped -- with colons if necessary, and links to sections are detected and displayed -- with " § " as a separator rather than the standard MediaWiki "#". Used in -- the template.


function p.formatLink(frame) local args = getArgs(frame) local link = args[1] local display = args[2] if not link then return p.makeWikitextError( 'no link specified', 'Template:Format hatnote link#Errors', args.category ) end return p._formatLink(link, display) end

function p._formatLink(link, display) -- Find whether we need to use the colon trick or not. We need to use the -- colon trick for categories and files, as otherwise category links -- categorise the page and file links display the file. checkType('_formatLink', 1, link, 'string') checkType('_formatLink', 2, display, 'string', true) link = removeInitialColon(link) local namespace = p.findNamespaceId(link, false) local colon if namespace == 6 or namespace == 14 then colon = ':' else colon = end -- Find whether a faux display value has been added with the | magic -- word. if not display then local prePipe, postPipe = link:match('^(.-)|(.*)$') link = prePipe or link display = postPipe end -- Find the display value. if not display then local page, section = link:match('^(.-)#(.*)$') if page then display = page .. ' § ' .. section end end -- Assemble the link. if display then return string.format('%s', colon, link, display) else return string.format('%s%s', colon, link) end end


-- Hatnote -- -- Produces standard hatnote text. Implements the template.


function p.hatnote(frame) local args = getArgs(frame) local s = args[1] local options = {} if not s then return p.makeWikitextError( 'no text specified', 'Template:Hatnote#Errors', args.category ) end options.extraclasses = args.extraclasses options.selfref = args.selfref return p._hatnote(s, options) end

function p._hatnote(s, options) checkType('_hatnote', 1, s, 'string') checkType('_hatnote', 2, options, 'table', true) local classes = {'hatnote'} local extraclasses = options.extraclasses local selfref = options.selfref if type(extraclasses) == 'string' then classes[#classes + 1] = extraclasses end if selfref then classes[#classes + 1] = 'selfref' end return string.format( '
%s
', table.concat(classes, ' '), s )

end

return p-------------------------------------------------------------------------------- -- Module:Hatnote -- -- -- -- This module produces hatnote links and links to related articles. It -- -- implements the and meta-templates and includes -- -- helper functions for other Lua hatnote modules. --


local libraryUtil = require('libraryUtil') local checkType = libraryUtil.checkType local mArguments -- lazily initialise Module:Arguments local yesno -- lazily initialise Module:Yesno

local p = {}


-- Helper functions


local function getArgs(frame) -- Fetches the arguments from the parent frame. Whitespace is trimmed and -- blanks are removed. mArguments = require('Module:Arguments') return mArguments.getArgs(frame, {parentOnly = true}) end

local function removeInitialColon(s) -- Removes the initial colon from a string, if present. return s:match('^:?(.*)') end

function p.findNamespaceId(link, removeColon) -- Finds the namespace id (namespace number) of a link or a pagename. This -- function will not work if the link is enclosed in double brackets. Colons -- are trimmed from the start of the link by default. To skip colon -- trimming, set the removeColon parameter to true. checkType('findNamespaceId', 1, link, 'string') checkType('findNamespaceId', 2, removeColon, 'boolean', true) if removeColon ~= false then link = removeInitialColon(link) end local namespace = link:match('^(.-):') if namespace then local nsTable = mw.site.namespaces[namespace] if nsTable then return nsTable.id end end return 0 end

function p.formatPages(...) -- Formats a list of pages using formatLink and returns it as an array. Nil -- values are not allowed. local pages = {...} local ret = {} for i, page in ipairs(pages) do ret[i] = p._formatLink(page) end return ret end

function p.formatPageTables(...) -- Takes a list of page/display tables and returns it as a list of -- formatted links. Nil values are not allowed. local pages = {...} local links = {} for i, t in ipairs(pages) do checkType('formatPageTables', i, t, 'table') local link = t[1] local display = t[2] links[i] = p._formatLink(link, display) end return links end

function p.makeWikitextError(msg, helpLink, addTrackingCategory) -- Formats an error message to be returned to wikitext. If -- addTrackingCategory is not false after being returned from -- Module:Yesno, and if we are not on a talk page, a tracking category -- is added. checkType('makeWikitextError', 1, msg, 'string') checkType('makeWikitextError', 2, helpLink, 'string', true) yesno = require('Module:Yesno') local title = mw.title.getCurrentTitle() -- Make the help link text. local helpText if helpLink then helpText = ' (help)' else helpText = end -- Make the category text. local category if not title.isTalkPage and yesno(addTrackingCategory) ~= false then category = 'Hatnote templates with errors' category = string.format( '%s:%s', mw.site.namespaces[14].name, category ) else category = end return string.format( '%s', msg, helpText, category ) end


-- Format link -- -- Makes a wikilink from the given link and display values. Links are escaped -- with colons if necessary, and links to sections are detected and displayed -- with " § " as a separator rather than the standard MediaWiki "#". Used in -- the template.


function p.formatLink(frame) local args = getArgs(frame) local link = args[1] local display = args[2] if not link then return p.makeWikitextError( 'no link specified', 'Template:Format hatnote link#Errors', args.category ) end return p._formatLink(link, display) end

function p._formatLink(link, display) -- Find whether we need to use the colon trick or not. We need to use the -- colon trick for categories and files, as otherwise category links -- categorise the page and file links display the file. checkType('_formatLink', 1, link, 'string') checkType('_formatLink', 2, display, 'string', true) link = removeInitialColon(link) local namespace = p.findNamespaceId(link, false) local colon if namespace == 6 or namespace == 14 then colon = ':' else colon = end -- Find whether a faux display value has been added with the | magic -- word. if not display then local prePipe, postPipe = link:match('^(.-)|(.*)$') link = prePipe or link display = postPipe end -- Find the display value. if not display then local page, section = link:match('^(.-)#(.*)$') if page then display = page .. ' § ' .. section end end -- Assemble the link. if display then return string.format('%s', colon, link, display) else return string.format('%s%s', colon, link) end end


-- Hatnote -- -- Produces standard hatnote text. Implements the template.


function p.hatnote(frame) local args = getArgs(frame) local s = args[1] local options = {} if not s then return p.makeWikitextError( 'no text specified', 'Template:Hatnote#Errors', args.category ) end options.extraclasses = args.extraclasses options.selfref = args.selfref return p._hatnote(s, options) end

function p._hatnote(s, options) checkType('_hatnote', 1, s, 'string') checkType('_hatnote', 2, options, 'table', true) local classes = {'hatnote'} local extraclasses = options.extraclasses local selfref = options.selfref if type(extraclasses) == 'string' then classes[#classes + 1] = extraclasses end if selfref then classes[#classes + 1] = 'selfref' end return string.format( '
%s
', table.concat(classes, ' '), s )

end

return p
  1. ^ a b c d
  2. ^ a b
  3. ^ a b
  4. ^
  5. ^
  6. ^
  7. ^
  8. ^
  9. ^ "Thomas Cook buys Elegant Resorts" BBC News 7 April 2008
  10. ^ Thomas Cook buys Gold Medal International Manchester Evening News, 18 December 2008
  11. ^ Tentacles everywhere UKTI Article
  12. ^ E3 Group expands into stage schools franchise market
  13. ^ Thomas Cook acquires Turkish travel specialist Öger Tours Hürriyet Daily News, 7 December 2010
  14. ^ Landmark deal to create the UK’s largest travel retail network (retrieved 8 October 2010)
  15. ^
  16. ^
  17. ^
  18. ^
  19. ^
  20. ^
  21. ^
  22. ^ a b
  23. ^
  24. ^
  25. ^
  26. ^
  27. ^ a b
  28. ^
  29. ^
  30. ^
  31. ^ Top 50 Public sales: ATOL Holders
  32. ^
  33. ^
  34. ^ London 2012 Olympics: 200,000 spare tickets still to be sold The Daily Telegraph (London), 16 July 2012

External links

  • Official website
  • Thomas Cook


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