Virgin Atlantic eyeing up Cook’s long-haul business, say reports
Virgin Atlantic has entered the bidding war for Thomas Cook’s airline, according to reports.
Sky News reports that Virgin lodged a preliminary offer for Thomas Cook’s UK long-haul business earlier this week.
A spokeswoman for Virgin said it would not be commenting on speculation. Thomas Cook also declined to comment.
Sky News said city sources claim Virgin Atlantic is looking to acquire Thomas Cook’s long-haul operation, which flies to Cancun, Las Vegas, Orlando and other destinations from London Gatwick, Manchester and, in the summer, from Glasgow.
Lufthansa and private equity form Indigo Partners have already been named as interested parties in Thomas Cook Airlines.
Reports said an update on talks is unlikely to come until after Thomas Cook announces its half-year results next week.
Thomas Cook announced in February it is considering selling its airline and talks have also triggered interest from prospective bidders for its tour operating business and in the whole group.
Chinese investment giant, Fosun, which also owns Club Med, has been gradually increasing its stake in Thomas Cook and now owns more than 18%.
EU regulations would not allow a Chinese owner of Thomas Cook’s airline but selling off the airline would allow a non-European investor to buy the rest of the business.
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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