Thomas Cook’s bankruptcy assessed by TUI

Thursday, September 26, 2019

The short-term impact of British travel giant Thomas Cook’s bankruptcy is being assessed by TUI stating that its own business model ‘proves to be resilient’.

Friedrich Joussen, CEO of the Hanover-headquartered travel and tourism company  said that they were currently assessing the short term impact of Thomas Cook’s insolvency under the current circumstances during the final week of their FY 19 financial result.

Even in a challenging market environment TUI’s vertically integrated business model proves to be resilient and the past summer seasons has closed out in line with expectations.

There are strong results from its holiday experiences business despite a few external challenges in airline business.

TUI is preparing measures to offer replacement flights to TUI customers who booked Thomas Cook Airlines flights which were no longer operated.

TUI and Thomas Cook were considered by many as close rivals on the market and after the bankruptcy of Thomas Cook the shares of TUI shot up by more than 6 percent.

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