The acquisition marks a significant milestone for eSky, which plans to leverage Thomas Cook’s well-established reputation to strengthen its presence in the UK and Western European markets.
The group expects a substantial increase in business, projecting a 300% rise in sales of dynamic travel products combining flights and accommodation in the coming year.
According to estimates from Reuters, the cost of the acquisition is around £30 million (approximately PLN 152 million). However, neither party has confirmed the exact amount. This estimate is based on Fosun Tourist Group's previous expectations. Notably, Thomas Cook’s Chinese operations are excluded from the transaction.
eSky CEO and co-founder Łukasz Habaj acknowledged the significance of the acquisition. “It’s a challenge, but we’re also incredibly proud. A Polish company that started in one room, without any major investments, has grown organically for 20 years and is now taking over the world’s oldest, most recognizable tourist brand,” said Habaj.
A new chapter for Thomas Cook?
Alan French, CEO of Thomas Cook, welcomed the acquisition as an opportunity for further development. “We’re gaining access to technology and expertise that eSky offers, as well as an extensive flight network that we couldn’t have imagined before. We will combine this with our market experience and hotel access,” French said.
eSky Group operates a global travel platform, with a presence in over 50 countries, primarily focusing on Central and Eastern Europe. The company offers flights, accommodations, city breaks, and holidays, along with additional services such as insurance, car rentals, and event tickets. In 2023, eSky reported revenues of PLN 3.5 billion and an EBITDA profit of PLN 81 million.
Thomas Cook, founded in 1841, is the oldest travel brand in the world. The company operated independently until it declared bankruptcy in 2019. Fosun Tourist Group acquired the brand and some of its operations for approximately GBP 11 million (around PLN 55.7 million at current exchange rates).
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Source: Polskie Radio 24