THOMAS COOK (INDIA)
Company Profile
• Thomas Cook(History)
• In 1841, young Thomas Cook arranged an 11-mile train journey for a motley group of passengers
from Leicester to Loughborough. And it marked the beginning of a chapter in history. He went on
to introduce a railway tour of Europe. But it wasn't until the early 1860s that he began the travel
firm, Thomas Cook & Son, which included tours of the USA. The Company also started operations
for military transport and postal services for England and Egypt during the 1880s. The world got
around and by the early 1900s, the who's who of the era - kings, politicians, bishops and professors
- patronised Thomas Cook's travel itinerary.
• As the years passed by, the Company introduced the world to a whole new concept of leisure and
business travel. Driving innovation in the business, it connected continents and presented the
people an economic and state mode of travel across them.
• In 1881, Thomas Cook started its India operations, with its first office being set up in Kolkata. As it
expanded its horizons across the subcontinent, the Company came to be known as Thomas Cook
Overseas Ltd. And on 21st October 1978, it was christened Thomas Cook (India) Ltd, only to make
its first public issue in February 1983. In the year 2000, the Group commenced its operations in
Mauritius and also acquired the Sri Lanka business from Thomas Cook Overseas Ltd, UK.
Company Profile
• Thomas Cook (India) Ltd. is the largest integrated Travel and Travel related
Financial Services Company in the country offering a broad spectrum of services
that include Foreign Exchange, Corporate Travel, Leisure Travel, and Insurance.
The Company launched its Indian operations in 1881 and is celebrating its 127
years of world-class service in India. Thomas Cook (India) operates in the following
areas of business, namely:
• Leisure Travel
• Corporate Travel Management
• MICE, Foreign Exchange
• SWIFT Network
• Travel Insurance
• Credit Cards
• Pre-Paid Cards
• Life Insurance and E-Business
• Post March 31st 2008, Thomas Cook (India) Limited (TCIL) is a part of Thomas Cook
Group plc UK (TCG). On March 7th 2008, TCG announced its decision to acquire
TCIL from Dubai Investment Group. Thomas Cook Group plc is one of the largest
travel groups in the world with a market capitalization of approximately US$6
Billion.
• In June 2006, Thomas Cook (India) acquired LKP Forex Limited and Travel
Corporation (India) Pvt. Ltd. (TCI).
• TCIL presently operates in over 72 cities across over 180 locations. The company
has overseas operations in Sri Lanka which is a branch of TCIL and Mauritius which
is a subsidiary of Thomas Cook (India). The Company employs over 2,200
resources and is listed on both the Bombay Stock Exchange as well as the National
Stock Exchange.
• Thomas Cook (India), over the years has received several prestigious awards such
as the Golden Peacock Award for excellence in Corporate Governance and the
Pacific Asia Travel Association (PATA) Golden Award for Best Travel. Recently, the
Company won the Best Tour Operator at the CNBC Awaaz Travel Awards 2008 and
was also accredited the P1 rating which is the highest financial rating given by
Crisil.
Travel Corporation Of India Ltd.
• Travel Corporation (India) Ltd. (TCI) is India’s premier travel and tour organisation, established in
1961. It has 25 offices in India and a total of 11 offices in USA, Canada, UK, Europe, China, Korea,
Japan and Australia. TCI is a member of AFTA, ASTA, IATA, IATO, ICCA, JATA, PATA, TAAI, UFTAA and
USTOA.
• TCI's core activities are Inbound Tourism, Business Travel and Leisure Travel. Over 1000
professionals at TCI offer expert guidance and take care of your every requirement, giving you
optimum value for money.
• TCI is a leader in the inbound tourism field and works closely with tour operators worldwide.
Besides tours to popular destinations in India and neighbouring countries, TCI specialises in special
interest and incentive tours, conferences and air charter / cruise ship ground operations. It
operates its own Taj Tour and Delhi City Tour and is a G.S.A. for the Palace on Wheels and the
Deccan Odyssey.
• TCI is one of India’s largest outbound operators and is the G.S.A. in India for Globus & Cosmos
Tours, Rail Europe, Greyhound, Amtrak, Japan Rail and a PSA of Costa Cruises. TCI organises
customised vacations and package tours to worldwide destinations.
Travel Corporation Of India Ltd.
• TCI’s Corporate Travel Management Services include implant
operations, travel insurance, foreign exchange, conferences and
incentive tours for multinationals and leading companies in India.
• In keeping with worldwide trends, TCI TravelNet offers travel services
through toll free numbers and on-line secure bookings on
www.tcindia.com.
• TCI has won the National Tourism Award for “Excellence in the
Tourism Industry” in Category I every year since 1976, besides annual
awards and recognitions.
• TCI has a widely distributed network of over 2000 travel agents and
tour operators worldwide and service over 2,50,000 travellers
annually. TCI's strong resources deliver the best in the industry.
During the Merger
• Mumbai, Friday December 01, 2006: Thomas Cook (India) Ltd (TCIL), the country's leading travel
solutions company today announced its decision to acquire Travel Corporation (India) Pvt. Ltd.
(TCI). The company proposes to acquire the entire shareholding of TCI, which post acquisition will
be a wholly owned subsidiary of Thomas Cook India. The acquisition is subject to the approval of
the hareholders of Thomas Cook India. The all cash deal is worth Rs. 182.45 crores.
• Mr. Udayan Bose, Chairman Thomas Cook India said "The combination of Thomas Cook India and
TCI would bring together two very successful and customer focused companies, who are
committed to providing travelers across India with very best travel products and services". He
further added "The TCI acquisition will consolidate our position in the inbound travel segment,
which is in line with our objective to establish Thomas Cook India as among the largest players in
India. In view of the increase in inbound tourism that the country is witnessing, for us to be able to
offer two platforms for inbound traffic will be a big advantage in the market".
• Mr. Jehangir Katgara, Director TCI said "Mergers and acquisitions are strengthening organizations
all over the world and India is no exception. In view of the future of the travel industry, the
complementary strengths of both the companies will leave the group well placed to meet any
challenges".
During the Merger
• Mr. Katgara has accepted the request from Thomas Cook to continue on the Board
of TCI, which will help the process of consolidation. TCI which will become a wholly
owned subsidiary of Thomas Cook India but will continue to operate as a separate
legal entity.
• The combined businesses of Thomas Cook, LKP Forex and TCI will make this Group
one of the largest travel and tour operators in India apart from being the largest in
Forex. With its 68 branches in Thomas Cook, it will add 88 branches of LKP Forex,
once the merger of the companies (currently pending with the Bombay High
Court) is completed. TCI's branches add up to 27. The total platform will have
almost 200 branches and outlets, making it the largest organization in terms of
distribution capability.
• TCI also has 11 offices abroad and these will now serve the Group as selling and
distribution offices for the Group, Mr. Bose said.
• HSBC were the Advisor to Thomas Cook India and TCI was advised by Citigroup.
• Thomas Cook has been present in India for
125 years and operates a total of 68 offices at
various locations in the country and has
operations in Sri Lanka & Mauritius. It
employs around 1,200 staff and generated
revenue of Rs. 142.1 crores (US$ 31.5 million)
in the 2004/05 financial year. The company
was acquired by Dubai Financial LLC at the
beginning of the year.
About TCI
Travel Corporation (I) Pvt. Limited is one of India's
premier travel and tour organization offering
national and international travel and tour
services. It operates 27 offices at major tourist
destination and cities in India and 11 offices in
USA, Canada, Europe, UK, Korea, Japan, China
and Australia and is one of India's largest tour
operators. It employs around 1,000 staff and
reported an income of Rs. 40 crore (US$ 8.6
million) in the 2005/06.
