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No connection with UK operator, our business is intact: Thomas Cook India

Thomas Cook India is a completely different entity post acquisition by Fairfax in 2012, UK operator hold no stake in the firm in India, says chairman

Aneesh Phadnis  |  Mumbai 

Thomas Cook
FILE PHOTO: The Thomas Cook logo is seen in this illustration photo | Photo: Reuters

India has said it is not impacted by the financial crisis faced by its former promoter and British tour operator Plc.

"We continue to grow and build our legacy as an independent entity after Fairfax Financial Holdings acquired a 77 per cent stake in India in 2012," company chairman Madhavan Menon said in a statement on Saturday.

Thomas Cook India is a completely different entity post the acquisition in August 2012 and the UK operator does not hold any stake in the company in India, he said.

The company issued statement following reports of financial crisis at Thomas Cook Plc which could result in the company going in bankruptcy. The UK operator is seeking $250 million in emergency funding and reports also indicate it has approached the government for financial support.

First Published: Sat, September 21 2019. 16:53 IST