BA Holidays/Thomas Cook Link approved by EU
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BA Holidays/Thomas Cook Link approved by EU
Dateline: Thursday May 03, 2001
European Commission has given the okay for a joint venture between tour operator Thomas Cook Holidays and British Airways Holidays.
Under terms of the deal, which was notified for clearance under the European Union's merger regulation on March 29, Thomas Cook Holdings and British Airways will transfer to the 50/50 joint venture their UK short-haul and long-haul tour operating businesses. Holiday programs will continue to be offered through Thomas Cook's retail network, British Airways Travel Shops and independent travel retailers. Simon Laxton, currently MD of Thomas Cook Holidays, will be responsible for merging the two operations and running the combined business"
European Commission has given the okay for a joint venture between tour operator Thomas Cook Holidays and British Airways Holidays.
Under terms of the deal, which was notified for clearance under the European Union's merger regulation on March 29, Thomas Cook Holdings and British Airways will transfer to the 50/50 joint venture their UK short-haul and long-haul tour operating businesses. Holiday programs will continue to be offered through Thomas Cook's retail network, British Airways Travel Shops and independent travel retailers. Simon Laxton, currently MD of Thomas Cook Holidays, will be responsible for merging the two operations and running the combined business"
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The deal was struck on the basis that BA would fly Thompson's long haul traffic, since 767's with 400 seats to Oz wasn't doing terribly well. BA has lots of spare capacity on its -400's because Ayling binned all the backpackers. Since then BA has replaced it's proper aeroplanes with toy Airbuses and so there won't be any spare capacity left to take them.
Dead in the water I'd say
Dead in the water I'd say
