BUSINESS NEWS


Thomas Cook is the biggest operator to Turkey


Turkish group’s Kockar buys 8% stake in Cook


The future of Thomas Cook is attracting renewed interest. Ian Taylor reports


Turkish tourism boss Neset Kockar took an 8% stake in Tomas Cook last week in a twist to the planned takeover of Cook by its banks and bondholders and Chinese group Fosun. Tomas Cook confirmed Kockar,


founder and chairman of Anex Tourism Group, had acquired a 6.7% stake on Wednesday of last week and within 24 hours he had increased his shareholding. In a statement, Kockar said:


“Tomas Cook is a well-established and highly respected competitor. We


64 8 AUGUST 2019


believe Tomas Cook has more value and potential than has been discussed recently. We are keen to explore potential strategic initiatives and engage with the relevant stakeholders.” Anex Tourism Group includes


tour operators Anex Tour in Russia, Ukraine and Germany, and Orex Travel in the Czech Republic, Slovakia and Poland, along with incoming agencies and hotels in Turkey and hotel management operations in Cyprus, Egypt, Tailand and Vietnam. It also owns charter carrier Azur Air in Russia and Azur Air Ukraine, an


aircraſt maintenance business and aviation broker. However, an atempt to expand


Azur Air into Germany in 2017 proved loss-making and was wound up last September. Te group operates in 48 countries,


has offices in 18 and employs 6,500. It handled about four million holidaymakers last year. Tomas Cook announced last month that it is moving toward a


Continued on page 62 travelweekly.co.uk


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