Have Option To Buy Thomas Cook Brand, Says Thomas Cook India Executive
Thomas Cook (India) Ltd. has an option to buy out the brand "Thomas Cook" from Thomas Cook U.K., which collapsed last month, though the billionaire Prem Watsa-led travel company can retain its name till 2025, a senior official of the company said on Thursday.
Thomas Cook India is a completely independent entity acquired by the Canada-based Fairfax Financial Holdings in August 2012 from Thomas Cook U.K. The collapse of Thomas Cook U.K. has no impact on the India travel and leisure company, Romil Pant, Senior Vice President- Leisure Business, of Thomas Cook India said in a press conference.
"We are looking at both sides (buying out Thomas Cook brand or floating separate brand) closely. There are pros and cons of the decision. Because the branch change is a very big thing. There is an option to buy out the brand. Right now it (the idea) is raw. Because Thomas Cook U.K. is concerned, it is under liquidation now. We will have to talk to the liquidator," Pant said when asked if the Indian company has any plans to buy Thomas Cook's brand name.
He said any decision with regards to the brand will be taken by the board, though buying out Thomas Cook brand "is an attractive decision" as it served the customer for so many years. "It is a very tempting choice. But the decision will have to be taken by the board," he added.
To a query, he said last year the Thomas Cook India served over 1.25 lakh international and more than 0.75 lakh Indians including a few neighbouring countries. Pant said this year they expect about 15-18 percent growth in terms of a number of travellers.