Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Fosun Tourism Group    1992   KYG365731069

FOSUN TOURISM GROUP

(1992)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryAll NewsPress ReleasesOfficial PublicationsSector news

Fosun Tourism : Chinese owners revive Thomas Cook as online-only holiday brand

share with twitter share with LinkedIn share with facebook
09/15/2020 | 07:05pm EDT
FILE PHOTO: Signage is seen outside a closed Thomas Cook travel agents store near Manchester, Britain

Thomas Cook re-emerged as an online-only travel company on Wednesday, backed by its Chinese owners, a year after the high-profile collapse of the British company left thousands stranded, out of work and out of pocket.

China-based Fosun Tourism Group, which was the biggest shareholder in the original Thomas Cook and also owns Club Med, said it was reviving the name to sell holidays online, having bought the brand and online assets last November.

Thomas Cook was founded in 1841 and was the world's oldest travel firm until it went bankrupt in September 2019, some six months before the COVID-19 pandemic wreaked havoc across the travel industry.

The new Thomas Cook will sell holidays to destinations on Britain's safe travel corridor list including Italy, Greece and Turkey, the company said in a statement on Wednesday.

But the timing of the launch during the pandemic could raise eyebrows. Many airlines and holiday companies have been brought to their knees, including the world's biggest travel company TUI Group, which has had to rely on German state support.

Thomas Cook's UK CEO Alan French said that launching during the pandemic posed short term challenges but Fosun was taking a long-term view.

"Our new business will combine fantastic UK-based customer service with an updated operating model protected by Atol and with the backing of a multi-billion-dollar organisation," he said.

Atol is a UK financial protection scheme for holidays, giving customers confidence in their booking.

Fosun said Thomas Cook's relaunch in Britain would support the growth of the brand in China.

(Reporting by Sarah Young; Editing by Kirsten Donovan)

Stocks mentioned in the article
ChangeLast1st jan.
FOSUN TOURISM GROUP 0.00% 7.48 End-of-day quote.-33.09%
TUI AG 1.92% 2.968 Delayed Quote.-73.96%
share with twitter share with LinkedIn share with facebook
All news about FOSUN TOURISM GROUP
09/17FOSUN TOURISM : Interim Report 2020
PU
09/15FOSUN TOURISM : Chinese owners revive Thomas Cook as online-only holiday brand
RE
09/10FOSUN INTERNATIONAL : successfully held FC2M Conference to expedite further indu..
AQ
09/08FOSUN TOURISM : China's post-COVID-19 travel industry sees green shoots with tou..
AQ
08/28Fosun International Announces 2020 Interim Results Total revenue reaches RMB6..
AQ
08/19FOSUN TOURISM GROUP : half-yearly earnings release
08/05FOSUN TOURISM : Monthly return as at 31 july 2020
PU
07/31FOSUN TOURISM : Continuing connected transaction sales agency agreement
PU
05/03FOSUN TOURISM : Travel Startup ZuBlu Secures $1 Million Seed Funding
AQ
04/01Fosun International Announces 2019 Annual Results
AQ
More news
Financials
Sales 2020 9 233 M 1 353 M 1 353 M
Net income 2020 -1 407 M -206 M -206 M
Net Debt 2020 6 556 M 961 M 961 M
P/E ratio 2020 -5,76x
Yield 2020 -
Capitalization 8 132 M 1 192 M 1 192 M
EV / Sales 2020 1,59x
EV / Sales 2021 0,78x
Nbr of Employees 10 138
Free-Float 17,6%
Chart FOSUN TOURISM GROUP
Duration : Period :
Fosun Tourism Group Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FOSUN TOURISM GROUP
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Average target price 9,52 CNY
Last Close Price 6,58 CNY
Spread / Highest target 55,4%
Spread / Average Target 44,6%
Spread / Lowest Target 28,2%
EPS Revisions
Managers
NameTitle
Jian Nong Qian Chairman & Chief Executive Officer
Ming Long Cao Co-President
Qing Guo Co-President
Wen Ping Wang Co-CFO, Executive Director & Vice President
Bing Bin Xu Co-Chief Financial Officer
Sector and Competitors
1st jan.Capitalization (M$)
FOSUN TOURISM GROUP-33.09%1 192
GENTING MALAYSIA-36.17%2 844
PLAYA HOTELS & RESORTS N.V.-51.19%551
EMEI SHAN TOURISM CO.,LTD-6.55%473
BLUEGREEN VACATIONS CORPORATION-51.16%366
PIERRE & VACANCES-40.35%135