Thomas Cook set to re-launch online
Chinese conglomerate Fosun, which bought the Thomas Cook brand after it fell into administration last year, is planning an imminent relaunch of the company, according to Sky News.
An announcement about the online launch is expected in the next few days.
Thomas Cook went into liquidation in September 2019 after last minute negotiations to save the company failed.
According to Sky News, Fosun, which was a big shareholder in Thomas Cook for several years prior to the company’s demise, is drawing up plans to reinvent it as an online travel agent.
The launch could be as soon as later this month and comes at a time when the travel industry is in chaos.
The Association of British Travel Agents (ABTA) has called upon the government to support the travel sector, after estimating that more than 90,000 jobs have already been affected by the coronavirus pandemic.
STA Travel is one of the latest victims of the current travel restrictions – it fell into administration last month.
Fosun will need to secure the necessary regulatory approvals before it can re-launch Thomas Cook online. The Chinese company acquired the name and other intellectual property assets of Thomas Cook for £11m.