Indian Thomas Cook flourishes while original 178-year-old British firm stares at bankruptcy

While one of the world’s oldest travel and leisure companies Thomas Cook UK filed for compulsory liquidation on Monday, the Indian branch of the group is not just afloat but is thriving with expected double-digit revenue growth in the current financial year. Despite the ongoing economic slowdown, the travel firm also has forward bookings in the upcoming festive season, Madhavan Menon, Chairman and Managing Director, Thomas Cook India, told CNBC TV-18 in an interview. Further, as the GST panel lowered the tax slab on room tariffs last Friday, the same is expected to help two of Thomas Cook India’s subsidiaries as it is likely to bring more business, he added.

Thomas Cook group announced that the company has ceased operations with immediate effect after it failed to secure a bailout from lenders. However, the Indian branch, which was acquired by Canada-based multinational Fairfax Financial Holdings in 2012, said that it will continue to function. In a statement circulated on Thomas Cook India’s website, the company said that “it is a completely different entity since August 2012.” Since Fairfax acquired 100% stake in Thomas Cook India, Thomas Cook UK is no longer a promoter of the India