Date
25 March 2017
Thomas Cook has announced a new strategic partnership with Club Med as both firms share a common Chinese shareholder. Photo: Bloomberg
Thomas Cook has announced a new strategic partnership with Club Med as both firms share a common Chinese shareholder. Photo: Bloomberg

Club Med, Thomas Cook strengthen ties amid Fosun link

Thomas Cook and Club Med will look at sharing flights to destinations as part of a new three-year strategic partnership between the two holiday companies.

The closer tie-up between the French and British firms comes as the groups now have a common shareholder — China’s Fosun International.

Shanghai-based Fosun bought Club Med earlier this year and later acquired a 5 percent stake in Thomas Cook in March.

Thomas Cook and Club Med launched on Tuesday a strategic partnership to cover Europe which would involve the sale of Club Med holidays through Thomas Cook channels and could lead to co-operation on flights, Reuters reported.

The pair, which already have a relationship in France, said they would aim to achieve 100 million euros (US$109 million) of sales of Club Med holidays through Thomas Cook channels by 2018, a jump of 60 percent on current levels, the report said.

“This partnership aims to generate strong sales growth in the European countries where Thomas Cook is present, a real opportunity for both our groups,” Club Med Chairman Henri Giscard d’Estaing was quoted as saying.

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