KAHINI CHAKRABORTY – Mumbai
With Fairbridge Capital all set to buy the majority stake in Thomas Cook India, Madhavan Menon, managing director, Thomas Cook India, assures that it will be business as usual for the customers, partners, employees and the services that the company provides. “Our India management team and I will continue on board and we see no impact on the day-to-day operation of our company. The announcement ushers in a vibrant new chapter in the history of Thomas Cook (India). This is indeed a unique opportunity that my team and I will leverage together,” said Menon, in an exclusive interaction with Express TravelWorld.
Menon revealed that he along with the management team have interacted with key representatives of Fairbridge and Fairfax. “I am delighted that they share our values and are keen on helping us explore all opportunities to expand the company and enhance profitability and shareholder value. The agreement grants us license over the Thomas Cook brand for 12.5 years- till the year 2025; and this is significant,” he added.
Pointing out that Fairbridge Capital is an investment company engaged in long-term investments and acquisitions in the Indian region with a focus on long-term capital appreciation through a flexible and value-oriented approach, Menon stated that Fairbridge is a 100 per cent subsidiary of Fairfax Financial Holdings, whose founder and the present chairman and CEO, Prem Watsa, has over the past 25 years, demonstrated a strong financial track record.
