Thomas Cook looks set for change in ownership
KarstadtQuelle, the German department store group that jointly owns Thomas Cook, has announced plans to acquire the other 50% share owned by Lufthansa.
The company’s chief executive, Thomas Middelhoff, said it would boost the travel business through acquisitions.
The statement comes despite KarstadtQuelle issuing a profit warning yesterday and reporting renewed losses.
Last month Lufthansa confirmed it was in talks with its joint partner about the future of Thomas Cook.
Lufthansa chief financial officer Stephan Gemkow said KarstadtQuelle has expressed interest in a deal and the airline group would see what agreement could be reached.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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