Thomas Cook acquired by traveltech giant eSky Group

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Sep 05, 2024, 06:00 ET

WARSAW, Poland, Sept. 5, 2024 /PRNewswire/ -- Polish eSky Group acquires one of the most recognisable names in travel—Thomas Cook. The acquisition agreement signed with Chinese Fosun Tourism Group will spur significant growth for Thomas Cook and allow eSky to strengthen its position in Western Europe.

Thomas Cook, the oldest travel brand, confirmed it has been acquired by Polish eSky Group, owner of a leading travel platform in Central and Eastern Europe. The deal will provide Thomas Cook with access to eSky's superior flight inventory and will support its continued growth. This in turn will pave the way for eSky to enter one of the most developed markets in Western Europe.

eSky Group has become the dominant travel platform in the CEE region and over the years has expanded across the world. eSky and eDestinos brands operates in 50+ countries across Europe, the Americas, and Africa. It has helped over 150 million customers reach the farthest corners of the globe, accessing over 550 airlines globally and 1.3 million hotels. eSky Group's 2023 profits surpassed EUR 19m – up 42% YoY and nearly three times the level of 2019.

"The synergy of Thomas Cook's brand heritage with our technology will drive Thomas Cook's growth and allow us to strengthen eSky's position in Western Europe. This acquisition is part of our strategy to diversify from just selling flights to offering package holidays across our existing markets in Europe and Latin America, as well as expand further into Western Europe," says Łukasz Habaj, CEO of eSky Group.

"The completion of this transaction will inject significant funding into our business as we rebuild the brand and accelerate the growth of this company. By combining the strength of our dynamic packaging technology and holiday know-how with the flight inventory, performance marketing and technical strength of eSky, we are confident we will create a formidable European travel business," adds Alan French, Thomas Cook Tourism's CEO.

Since 2022, eSky has been heavily investing in City Break and Holiday packages that are a cornerstone of business transformation from a flight platform into a Virtual Tour Operator. eSky Group has over 800 employees – including an in-house development team of over 190 people – and is part-owned by listed private equity fund MCI.