East Coast Wine Trail

East Coast Wine Trail
East Coast Wine Trail

Wednesday, 22 January 2020

Is this the worst travel idea ever?

I'm no businessman, but I can tell when something smells wrong. 

Fosun Tourism Group is reported to have recruited several former Thomas Cook executives ahead of a relaunch of the Thomas Cook brand as an online travel company.

Fosun Tourism Group operates as a leisure-focused integrated tourism group providing resort management, tourism destination development, and other related services from its Hong Kong-base. 

Travel Mole reports Thomas Cook is set to be relaunched in June after hiring a dozen former company executives and will apply for an ATOL licence from the Civil Aviation Authority.

Before Thomas Cook collapsed in September 2019, Fosun was its biggest shareholder.

The brand was acquired by Fosun in November for £11 million. At the time, the union TSSA described the sale price as "a paltry sum". And there is still lots of ill-feeling following the collapse. 

A report in The Times report says: "Fosun is said to be keen to quickly re-establish the 179-year-old tour operator as an online business."

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