Dubai’s Emirates Group buys Thomas Cook unit | The National:
"Emirates Group has snapped up part of Thomas Cook as the Dubai-based carrier builds a global travel agency business to help to feed its rapidly expanding route network.
It comes as the London-listed travel agent seeks to rebuild its business three years on from the start of the Arab Spring, which had a devastating impact on its package holiday business across North Africa.
Thomas Cook, one of the world’s best-known travel agency businesses, is selling assets in a bid to revive its fortunes. It said yesterday it had sold its Gold Medal Travel Group to Emirates-owned dnata for £45 million (Dh271.8m), as it pared its fourth-quarter loss."
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