Thomas Cook, Co-operative Travel tie-up creates UK’s largest travel agency
09 Oct 2010
In UK, holiday giant Thomas Cook and Co-operative Travel have announced the merger of their travel businesses, which will lead to job losses they said. The move is aimed at domination the high street.
The merger creates the UK's largest travel agency with more than 1,200 UK shops in an industry under strain as Britons go slow Britons on holidays plans.
According to the companies the cost cutting deal would generate savings of £35 million, in the no cash transaction deal.
However, job losses are expected to run into hundreds at both firms, which are among the oldest travel agencies in the country.
According to analysts the move is aimed primarily as a protective measure following another difficult year for holiday firms.
The Icelandic ash cloud fiasco severely affected booking amid a general travel slump this year.
