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Thomas Cook India has said its funds position is strong and it is not impacted by the recent challenges in the aviation sector. The company said it’s bullish about its travel and foreign exchange business and is open to new investments.
The tour operator issued a statement in the backdrop of financial crisis faced by rival firm Cox & Kings. Madhavan Menon, chairman of Thomas Cook India said the company is debt free on a standalone basis and is seeing healthy booking growth and a turnaround in its destination management business.
“Our travel businesses have negative working capital and therefore do not require any external funding. We have witnessed a turnaround of our international destination management specialist companies during 2019. Additionally, during 2020, contribution to the profitability is expected from our recent acquisitions including Digiphoto Entertainment Imaging (DEI). Our forward booking position reflects a healthy increase of over 12%,” he said.
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