Thomas Cook offices in the UAE are unaffected by the collapse of Thomas Cook in the UK because they are affiliated with the Indian branch of the company.
In a statement from Madhavan Menon, the chairman and managing director of Thomas Cook (India) Ltd, he said: “With the recent developments relating to the iconic British Travel Company, Thomas Cook PLC, being reported in the media, it is imperative to highlight that Thomas Cook India Group is a completely different entity since August 2012 when it was acquired by Fairfax Financial Holdings (Fairfax), a Canada-based multinational firm with varied interests across the globe as well as in India.
“Post transfer of its entire stake in Thomas Cook (India) Limited to Fairfax, Thomas Cook UK ceased to be the promoter of Thomas Cook (India) Limited from the said date and since then Thomas Cook UK has had no stake in Thomas Cook (India) Limited.
“The last seven years have been fruitful as we continue to grow and build our legacy as an independent entity after Fairfax Financial Holdings acquired a 77% stake in Thomas Cook India Ltd. (TCIL) in 2012.”
