The world’s oldest travel group, Thomas Cook, with its German subsidiaries, Condor, Neckermann, Öger Tours, Bucher is broke. A chronicle of the turbulent history of Thomas Cook.
1841 – The Australian-born founder of the company, Thomas Cook arranged for 500 travellers in England, a train journey from Leicester to Loughborough for a meeting of the temperance movement. The twelve mile route is the first Tour that brings Cook on the way, and thus the origin of the 175-year long history of the company.
In 1855 Thomas Cook organised the first trip through Europe from the port in the English-Harwich to Antwerp, via Brussels, Cologne, Heidelberg, Strasbourg to Paris. For the first time Cook offers a complete package, the travel, meals and accommodation comprises. The package tourism is born.
1865 – Thomas Cook opened his first travel Agency on fleet street in London.
1874 – Thomas Cook performs with the “Cook’s Circular Note”, the forerunner of the Traveller’s Cheques in New York.
In 1896 At the Olympic Games in Athens, is Thomas Cook & Son is the official tour operator
1919 – Thomas Cook & Son is in the UK, the first tour operator, the air travel organized.
1928 Frank and Ernest Cook, the two grandsons of the founder, retire and sell the company to the French operator of sleeping cars, dining cars, and luxury trains, Compagnie Internationale des Wagons-Lits et des Grands Express Européens.
1948 – The company comes under the umbrella of the British state operation of the British Transport Holding Company.
1972 – Thomas Cook is re-privatised by a consortium consisting of the British Midland Bank, Trust House Forte and the Automobile Association incorporated.
1992 – The Westdeutsche Landesbank (WestLB) and the German airline LTU take on Thomas Cook from the Midland Bank.
1994 – Thomas Cook will acquire from Barclays Bank, its subsidiary, the inter-payment Services Limited, and is the leading supplier of travellers Cheques outside the United States.
2001 – Thomas Cook by the German C&N Touristik (Condor & Neckermann) is adopted and thus part of KarstadtQuelle and the Lufthansa. The travel group has been operating under the Thomas Cook AG.
2007 – The Thomas Cook AG and the British MyTravel Group merge to form Thomas Cook Group plc. The group is listed on the London stock exchange
2010 – The journey the group takes care of the Turkey specialist Öger Tours.
2011 – Thomas Cook is in trouble, and admits of its banks more money to need to think about the Winter to come. 20 million pounds has agreed to act as a Bridge. In addition, the tour operator gives more air through the sale of a Spanish hotel chain.
2015 – The Thomas Cook Group is well known, with the Chinese Investor Fosun and a strategic Partner is found to have. Since then, Fosun is 18 percent, the largest shareholder.
2019 – The travel group must be three times within a few months, his profit targets evaporation. As reasons, the management Board is called Brexit, the price war and rising costs.
August 2019 – Thomas Cook constricted with major shareholder Fosun, a rescue package equivalent to almost one billion euros. It stipulates that the Chinese are willing to provide £ 450 million of fresh capital and three-quarters of the travel business, as well as a quarter of the Airline group. The most important banks and bondholders are also expected to bring in £ 450 million.
September 2019 – The banks are demanding £ 200 million more in collateral to the weaker winter season to come.
22. September 2019 – Thomas Cook negotiated with banks, creditors, and the government in London to avert Bankruptcy.
23. September 2019 – Thomas Cook are on and the shops are. The British air authority, cancelling all flights. The holiday airline Condor asked the Federal government for a bridging loan.
(Reuters)