Thomas Cook ties up with Japanese travel firm
Travel major Thomas Cook (India) has tied up with the Japanese travel services firm, JTB Corp to boost its travel business.
By TNN |
MUMBAI: Travel major Thomas Cook (India) has tied up with the Japanese travel services firm, JTB Corp to boost its travel business. Over 60% of TCIL’s revenues come from the forex business and the company is trying to increase the slice of the travel pie. The alliance is for a range of travel activities including leisure outbound, corporate travel and inbound travel to India.
The Tokyo-based JTB Corp is one of the largest travel companies in the world, and the alliance will provide it with a platform for an India entry. “With business travel growing at 20%, this alliance will provide further impetus to our corporate travel business,” TCIL managing director Madhavan Menon said. The travel cooperation arrangements would be for inbound, outbound and corporate travel across markets such as Japan, China South East Asia, Australia, New Zealand, Europe and America.
Talking on TCIL’s plans for a rights issue, chairman Udayan Bose said the issue was delayed as there was a change in the holding parent of TCIL’s principal shareholder Dubai Holding. It will now take place next year, he said. The issue is to part finance TCIL’s acquisition of forex company LKP Finance.
The Tokyo-based JTB Corp is one of the largest travel companies in the world, and the alliance will provide it with a platform for an India entry. “With business travel growing at 20%, this alliance will provide further impetus to our corporate travel business,” TCIL managing director Madhavan Menon said. The travel cooperation arrangements would be for inbound, outbound and corporate travel across markets such as Japan, China South East Asia, Australia, New Zealand, Europe and America.
Talking on TCIL’s plans for a rights issue, chairman Udayan Bose said the issue was delayed as there was a change in the holding parent of TCIL’s principal shareholder Dubai Holding. It will now take place next year, he said. The issue is to part finance TCIL’s acquisition of forex company LKP Finance.
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