Chinese company Fosun Tourism Group now

The Chinese company Fosun Tourism Group will now belong to the Russian Intourist, follows from the press release of the current owner of the British Thomas Cook Group. Thomas Cook herself bought an “Intourist” from AFK System in 2018.

Under the terms of the announced transaction, the Chinese company receives a control package in the tourist unit of Thomas Cook, as well as a minority share in its subsidiary. For this, Fosun Tourism will pay $ 940 million. Fosun was already a large (18%) shareholder of Thomas Cook, reorganization with its participation should attract wealthy Chinese tourists.

Quote. “Although this is not the result that you would like to get from shareholders, the proposal (Fosun Tourism Group) is a pragmatic and responsible solution that will ensure the future of Thomas Cook for our customers and our employees,” the executive director of the company Peter Fankhauser.

Thomas Cook is the oldest tourist company in the world (founded in 1841), but now it is unprofitable: in March 2019, the debt of Thomas Cooks amounted to about $ 2.4 billion. A quarter of the rounds remains unprofitable for this year of this year. At the same time, the Thomas Cook tourist unit remains one of the largest in the world: it serves 11 million tourists annually with the help of 21 thousand employees.

• In addition to the Intourist, the British company in Russia bought a tour operator Biblio Globus. Buying can cost her $ 150 million in total, but she has not yet been certified.
• Chinese companies are actively absorbing Western companies in the field of tourism. So, the Chinese tourist online company Ctrip.com International bought a service in Scotland for searching for Skyscanner for $ 1.74 billion in 2016.