TCIL has option to buy \"Thomas Cook\" brand: Offical
Hyderabad: Thomas Cook India (TCIL) has an option to buy out brand "Thomas Cook" from Thomas Cook UK, which collapsed last month, though the Indo-Canadian billionaire Prem Watsa-led travel company can retain its name till 2025, a senior official of TCIL said on Thursday.
TCIL is a completely independent entity acquired by the Canada-based Fairfax Financial Holdings in August 2012 from Thomas Cook UK.
The collapse of Thomas Cook UK has no impact on the India travel and leisure company, Romil Pant, Senior Vice President- Leisure Business Thomas Cook India Ltd (TCIL) said in a press conference here.
"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 UK 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 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 haveto be taken by the board," he added.
To a query, he said last year the TCIL served over 1.25 lakh international and more than 0.75 lakh Indians includinga few neighbouring countries.
Pant said this year they expect about 15-18 per cent growth in terms of number of travellers.