Thomas Cook is now part of Poland-based eSky Group, following regulatory approval of the acquisition by the Civil Aviation Authority in the United Kingdom.
The online tour operator - one of the world's oldest travel brands - is being integrated into eSky, which operates in 50 countries. The Poland-based travel platform said it plans to more than double the customer base for the tour operator segment to 640,000 in 2025 as well as increase turnover by about £50 million in the next year to reach £290 million in 2025.
The deal, announced in early September for up to £30 million, sees Thomas Cook’s 70-strong team, including CEO Alan French, join the eSky structure to help "the expanded business maximize the commercial opportunities of its burgeoning holidays business across Central and Eastern Europe" alongside Cook's existing business in the U.K., Netherlands and Belgium.
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ESky acquired Cook from Fosun which in turn had acquired Thomas Cook in late 2019 for £11 million after it shut down due to a financial collapse. Then in 2020, Fosun re-launched it as an online brand. The company had been rumored to be up for sale to eSky earlier this year.
“Adding Thomas Cook to the eSky and eDestinos family of brands is a key part of our Group's transformation from primarily a flight platform to an online travel agency,” said Lukasz Habaj, co-founder and CEO of eSky.
“It is our ambition to become one of the leading dynamic package sellers in Europe, as well as more firmly, establishing ourselves in the minds of Western European travelers.”
French, who becomes chief holidays officer of eSky Group, said: “The new Thomas Cook has enjoyed considerable success in a relatively short period of time. We are on track to end the year on a turnover of almost £115 million without additional investment and having already started to build our market share in this highly competitive sector. The opportunity for us to use our holidays expertise combined with eSky’s technology will help us to realize our ambitions of re-establishing Thomas Cook as a leading holiday company once again.”
Using eSky’s technology, Thomas Cook will expand its flying capabilities, with the integration of 560 airlines. Meanwhile, eSky will offer customers across its markets more competitive rates on holiday and city break packages through the combination of the two companies.
“ESky’s proven proprietary technology will be instrumental in the integration process, optimizing Thomas Cook's operating costs and creating opportunities for further growth,” Habaj said.
“The objective is to deliver strong growth into 2025 while maintaining the company’s profitability achieved, in part, by streamlining processes and enhancing margins through the introduction of a comprehensive range of additional services tailored to the eSky customer base. Furthermore, the implementation of our tech solutions will result in considerable savings, thereby significantly improving profitability.”