Cook union seeks job assurances Ian Taylor
Te union which represents Tomas Cook shop staff is seeking assurances on jobs aſter Cook confirmed this week it is in talks with Chinese group Fosun on a potential takeover. Fosun emerged as the most likely
saviour of Tomas Cook’s holiday business as the group considers separate offers for its airlines. Te Chinese conglomerate already owns resort group Club Med, which it bought in 2015, and operates a joint venture with Tomas Cook in China. Tomas Cook confirmed on
Monday that “it is in discussions with Fosun International following receipt of a preliminary approach”. Te group
noted: “Tere can be no certainty this will result in a formal offer. However, the board will consider any potential offer alongside the other strategic options it has.” Te news triggered fresh concerns
about Cook’s retail estate, with a senior industry figure suggesting: “I’m not sure Fosun will want 550-plus Tomas Cook UK agencies.” TSSA general secretary Manuel
Cortes demanded “details on Fosun’s intentions” saying: “Tese are worrying times for our members.” Only 10 days earlier, the union
“welcomed a commitment from Tomas Cook that they have no plans to leave our high streets” following a meeting with the group. However, a source close to
Fosun has backed
Cook’s strategy. It should not be worrying if it injects some capital into the business
Tomas Cook noted: “It should not be worrying if Fosun comes in and injects some capital into the business. Fosun is well-known to Cook. It has been buying shares. It has backed the management and backed the strategy.” Fosun bought a 5% stake in
Tomas Cook four years ago and built it to 18.6% through the early part of this year. Te two groups launched a joint venture in China in
2016 which has expanded through digital distribution deals with Chinese retailer Ali Baba and social media giant WeChat to handle 160,000 customers last year and expects double that number this year. Tomas Cook has received bids
for its airlines in the UK, Germany and Scandinavia, including from Luſthansa and Virgin Atlantic, as well as an offer for its Scandinavian business from private equity firm Triton, and the TSSA fears the company will be broken up. However, a TSSA spokesman told Travel Weekly: “If someone comes in to buy the business to make it work without cuting jobs or any loss on the high
street that would be no bad thing.” › Business, back page
Towie star Mario Falcone joins InteleTravel
Harry Kemble
Former Towie star Mario Falcone is training to be a travel agent with homeworking firm InteleTravel. Falcone will have access to
InteleTravel’s booking system once he passes mandatory training, the firm confirmed. InteleTravel, which originated in
the US and now has a UK business, was granted Abta membership in March, the same month Falcone
4 13 JUNE 2019
signed up. Te reality TV star made his debut on ITV2’s Te Only Way Is Essex in 2011 and appeared on Celebrity Big Brother in 2013. A Facebook page called Mario
Falcone announces the launch of his new business, Maximise Travel. It says: “Maximise Travel is about
to launch. I have combined my two passions, business and travel, and I’m about to share it with you all.” Falcone said he would be seeking
50 people “who love travel, want to earn more money and want to work
alongside me in my new venture”. Te page adds: “No experience
needed, I’ll be mentoring you in becoming part of the travel industry from the comfort of your own home alongside your job, kids or other commitments.” Alongside snaps of Falcone on
holiday are posts saying: “Message Maximise Travel to find out how you can produce an income through travelling.” Falcone has also set up a Maximise Travel account on Instagram, which
Falcone
signed up to InteleTravel in March
has nearly 20,000 followers. In the UK, InteleTravel has 2,500
recruits. It charges a £142 sign-up fee and £32 monthly membership for access to its commercial rates and training. It does not require its recruits to
have travel industry experience. A spokeswoman said Falcone
must undergo its mandatory training, including on areas such as the General Data Protection Regulation (GDPR) and Package Travel Regulations, before he can sell holidays.
travelweekly.co.uk
PICTURE: Shutterstock
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