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Published on Sunday, August 22, 2021

Losses double for Thomas Cook owner Fosun






Club Med and Thomas Cook owner Fosun Tourism Group saw half-year losses double to $308 million in the first six months of 2021.  Revenue almost halved, Fosun said, blaming travel restrictions in the UK impacting its two main western travel brands.


Club Med suffered a 64% decline in business volume as it has resumed operations at only 39 of its 63 resorts globally as of the end of July. All but one of its Alpine resorts were closed during last winter.


 


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