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Published on Wednesday, July 10, 2019

Cox & Kings: 'It's business as usual'






Cox & Kings Travel (UK) has confirmed that it has not been affected by troubles at Cox & Kings (India), which has had its licence suspended by the International Air Transport Association (IATA).

UK marketing director Philip Hamilton-Grierson said the UK company is 'fully operational'.

In a statement, he said Cox & Kings (India) is a separate business and Cox & Kings Travel (UK) has its own IATA licence, and is unaffected by the situation in India.

"It is therefore business as usual at Cox & Kings Travel (UK)," he added.

IATA suspended Cox & Kings (India) Billing and Settlement Licence after the Mumbai-based business defaulted on two debt payments.

In a statement issued to the India Stock Market, the company said it would continue to issue tickets on a cash and carry basis.


IATA said Cox & Kings defaulted on its BSP payment subsequent to its suspension from the BSP.


"IATA remains in dialogue with Cox & Kings to explore whether a resolution can be reached," said a spokesman.


Malvern Group, which is a holding asset of Cox & Kings, said it was unaffected by the news.


"As a business, we have a total booking value of £170 million and we continue to focus on delivering value to customers, partners and investors. Cox & Kings are a minority shareholder in the Malvern Group and we will not be looking for another."


 

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