Thomas Cook’s Nordic business to carry on, looking for buyer

Thomas Cook’s Nordic business to carry on, looking for buyer

(Reuters) – Thomas Cook’s TCG.L Nordic business said on Tuesday it would continue to operate as it is a separate legal entity from its London-listed parent, which collapsed on Monday, and it was looking for new owners.

The Nordic arm of Thomas Cook said on Monday all its flights would resume on Tuesday, although some disruptions were reported.

“Since we are an independent and profitable part of the business, we are already able to continue our operations with support from our banks, lenders and guarantors,” Magnus Wikner, managing director of Thomas Cook’s Nordic business, said.

Hundreds of thousands of holidaymakers were stranded by the collapse of the world’s oldest travel firm, sparking the largest peacetime repatriation effort in British history.

The company’s British fleet was grounded immediately after the parent group became insolvent to comply with operating license requirements.

The British government said issues about the ownership and leasing arrangements of the aircraft meant it was simpler to use alternatives to fly people home.

In the Nordics, close to 35,000 holidaymakers were traveling at the time of Thomas Cook’s announcement, which resulted in the cancellation of flights on Monday.

Thomas Cook’s Nordic business consists of two legal entities, Thomas Cook Northern Europe and Thomas Cook Scandinavian Airlines, and is also known as Ving Group.


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