{"id":293420,"date":"2019-09-24T05:36:45","date_gmt":"2019-09-24T05:36:45","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=293420"},"modified":"2019-09-24T05:36:45","modified_gmt":"2019-09-24T05:36:45","slug":"178-years-old-british-travel-firm-thomas-cook-collapses-but-no-impact-on-india-business","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/178-years-old-british-travel-firm-thomas-cook-collapses-but-no-impact-on-india-business\/","title":{"rendered":"178 years old British travel firm Thomas Cook collapses but no impact on India business"},"content":{"rendered":"<p>One of the world\u2019s oldest travel and leisure companies Thomas Cook filed for compulsory liquidation on Monday after failing to secure a bailout from lenders. However, the India branch of Thomas Cook will continue to function as \u201cit is a completely different entity since August 2012,\u201d Madhavan Menon, Chairman and Managing Director, Thomas Cook India, said in a statement. Thomas Cook India Group was acquired by Fairfax Financial Holdings, a Canada-based multinational with varied interests. The latter acquired a 100% stake in Thomas Cook India and hence, the Thomas Cook UK is no longer a promoter of the India subsidiary. <\/p>\n<p>As the company ceased operations and Thomas Cook flights were cancelled, millions of travellers across the globe were left in a frenzy. The British government will now undertake one of its largest repatriation measures to bring back about 6 lakh stranded holidaymakers across the globe. The 178-years-old travel firm took a hit by flourishing online competition and was reeling under 1.7 billion pounds of debt, CNBC reported. The company has<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the world\u2019s oldest travel and leisure companies Thomas Cook filed for compulsory liquidation on Monday after failing to secure a bailout from lenders. However, the India branch of Thomas Cook will continue to function as \u201cit is a completely different entity since August 2012,\u201d Madhavan Menon, Chairman and Managing Director, Thomas Cook India, said in a statement. Thomas Cook India Group was acquired by Fairfax Financial Holdings, a Canada-based multinational with varied interests. The latter acquired a 100% stake in Thomas Cook India and hence, the Thomas Cook UK is no longer a promoter of the India subsidiary. [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[196,130,138],"tags":[],"class_list":["post-293420","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-financial-express","category-newspapers","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/293420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=293420"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/293420\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=293420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=293420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=293420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}