Thomas Cook Group has sold its Egypt and Lebanon businesses to Bahraini firm Yusuf Bin Ahmed Kanoo for $10.3 million.
According to a statement on the Thomas Cook Investor Site, the transaction will be effected through the sale of
Tour operator Thomas Cook Germany will restart trips to Egypt from the end of September, just ahead of the peak winter sun season, it said on Wednesday.
Many travel firms halted trips to the country after violence broke out in Jul
Violence sweeping Egypt has hit its tourism - a vital part of the economy - as governments warn holidaymakers to stay away, prompting some foreign travel agents to stop all trips there.
The latest unrest looks likely to kill off a
British travel firm Thomas Cook said it would cut 2,500 jobs from its UK workforce as part of its plans to restructure the business.
Most of the job losses would be in back-office functions and its retail network, and would involv
Thomas Cook on Thursday said current premier Farnell boss Harriet Green would succeed Sam Weihagen as chief executive of the debt-laden tour operator at the end of July.
Green has been chief executive of Brit
Thomas Cook is close to securing a 1.2 billion pounds ($1.90 billion) lifeline from its lenders to secure the future of the world's oldest travel company which issued three profit warnings last year, the Sunday Times reported.
Thomas Cook will close 200 underperforming shops and 500 hotels and is lining up further disposals, as it battles to cut debt and restore confidence among investors and customers after a bailout by its banks.
The world's oldest travel
Uncertainties caused by the euro zone debt crisis and a stuttering global economy could hit spending next year on holidays by Germans, the world's top spenders on trips abroad, a German travel association said.
Abu Dhabi Aircraft Technologies (ADAT), has signed a five-year agreement to conduct airframe heavy maintenance for Thomas Cook’s Boeing 757 fleet.
ADAT is part of Mubadala Aerospace’s global MRO network, which includes SR Technics. Both AD
Travel firm Thomas Cook has said it was spending up to 249 million euros ($384 million) on acquisitions in India and the Middle East as part of a drive to expand in fast-growing emerging markets.
Europe's second-biggest travel firm, creat