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

FOSUN TOURISM GROUP

(1992)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 02/24
12.7 HKD   -5.51%
02/02FOSUN TOURISM : Expects to Book Up to $410 Million Loss in 2020
MT
2020FOSUN TOURISM : Interim Report 2020
PU
2020FOSUN TOURISM : Chinese owners revive Thomas Cook as online-only holiday brand
RE
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Fosun Tourism : Chinese owners revive Thomas Cook as online-only holiday brand

09/15/2020 | 07:05pm EST
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)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
FOSUN TOURISM GROUP -5.51% 12.7 End-of-day quote.53.94%
TUI AG 13.13% 5.23 Delayed Quote.65.36%
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Financials
Sales 2020 8 425 M 1 306 M 1 306 M
Net income 2020 -1 903 M -295 M -295 M
Net Debt 2020 6 556 M 1 016 M 1 016 M
P/E ratio 2020 -7,13x
Yield 2020 -
Capitalization 13 058 M 2 023 M 2 024 M
EV / Sales 2020 2,33x
EV / Sales 2021 1,19x
Nbr of Employees 10 138
Free-Float 17,6%
Chart FOSUN TOURISM GROUP
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Technical analysis trends FOSUN TOURISM GROUP
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 8
Average target price 9,32 CNY
Last Close Price 10,57 CNY
Spread / Highest target 6,32%
Spread / Average Target -11,9%
Spread / Lowest Target -21,3%
EPS Revisions
Managers and Directors
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