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Business

Thomas Cook Has No Plans to Sell

Germany's Thomas Cook, Europe's second-biggest travel and tourism group, has no intention of selling its French unit Thomas Cook Voyages (formerly Havas Voyage), chairman Wolfgang Beeser said in a magazine interview released on Tuesday. "We now have things under control in France," Beeser told the weekly magazine Focus Money in an interview to be published on Thursday, but released in advance. There had been speculation that Thomas Cook, a 50-50 joint venture between German airline Lufthansa and the retail giant KarstadtQuelle, was looking for a buyer for its loss-making French activities. But Beeser told Focus Money that while France had been a problem, enormous efforts had been made and a new management installed there. At the same time, the chairman confirmed that Thomas Cook was negotiating to sell its loss-making Aldiana brand. "Yes, there are talks," Beeser said. But no decision had yet been taken regarding a possible sale."We're examining all options, including that of continuing to operate Aldiana ourselves," Beeser said. Recent newspaper reports have suggested that US investor Advent International was in the running to buy a stake in Aldania.

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