2002 Press Releases

Thomas Cook Profit Lists 136% Growth for the First Half of Year 2002

Thomas Cook (India) Ltd, the leading travel and related services company closed its books of account for the half year ended on April 30th, 2002 on a very good note, despite the aftermath of September 11th disaster, volatile stock markets and economic recession.

The company posted a Profit after Tax of Rs 11.16 crore for the first half which is an increase of over 136% as compared to the corresponding period in the previous year. With regard to the last Financial Year of the Company, which ended on October 31st 2001, the Company had adopted a 10 month period for the year 2001 (January to October), instead of the traditional 12 months. This change was adopted to align the Company’s financial year with that of its parent company Thomas Cook AG.

Ashwini Kakkar, CEO & MD, Thomas Cook (India) Ltd, says, "our results reflect the benefits of an increasing degree of our customer satisfaction, better management of costs, protecting revenues, and the extensive use of technology. Thomas Cook is committed to providing innovative and quality products combined with high standard of service to enable our customers to enjoy travel free of any hassle."

The company recently entered the Insurance market with the launch of an innovative overseas insurance product – TravelCare. The company also offers a Personal Accident Insurance cover and Household Burglary cover with purchase of some of its products. It will shortly introduce additional programmes like customised insurance plan for the corporate traveller and insurance cover for students going abroad for studies.

On the holiday front, Thomas Cook this year launched multiple Rail Holiday packages to destinations like Kerala, Goa, Himachal and the Himalayas for the domestic market.

Thomas Cook has also relaunched its website, thomascook.co.in and incorporates several new features like an online airline seat and hotel reservation facilities, destination guides and maps, and personalised customer accounts.

Kakkar is also enthusiastic about the new developments happening at the Thomas Cook Group level. He explains that Thomas Cook in UK and Germany collectively own the world’s largest leisure airline (charter) fleet of 85 aircrafts. These were operating under different sub brands such as JMC, Condor, Sunworld etc, but will now be uniformly branded in the Thomas Cook livery. "The Group is moving towards the concept of complete transparency with regards to our ownership links with these brands. In the not too distant future they will be able to offer Thomas Cook branded holidays through Thomas Cook branded distribution channels and fly on Thomas Cook branded planes. This will give a tremendous fillip to the Thomas Cook brand and we in India too stand to gain from it, " he adds.

Thomas Cook (India) Ltd also seeks permission from the Ministry of Civil Aviation to operate outbound charter services.