Category Archives: Breaking News (All Categories)

Thomas Cook (India) has expanded its footprint in Gujarat with the launch of a new Gold Circle Partner franchise outlet in Surat. This expansion augments Thomas Cook India’s distribution and reach in Gujarat to 10 consumer access centres: 5 owned branches and 5 Gold Circle Partner (franchise) outlets across Gujarat state. In this new age of travel (Covid-era), customers are understandably seeking the guidance and reassurance of holiday experts to navigate through the complexities and changes in travel and health protocols. To guide and support its customers with their travel plans and requirements, Thomas Cook India has set up a new Gold Circle Partner franchise outlet at Surat. Additionally, to build consumer confidence in travel, Thomas Cook India has launched TravShield – comprehensive Safety Commitment & Assured Safe Travel Program in association with Apollo Clinics that covers every aspect of physical safety as well as mental and financial security to give the customer complete peace of mind. Over the past 18 months there has been a strong pent-up demand and with the easing of restrictions and re-opening of borders, Gujarat’s consumers are displaying a strong travel desire for travel to international favourites like Maldives, Dubai, Abu Dhabi, Switzerland, France, Austria, Turkey, Egypt and Russia; also domestic locales like Goa, Andamans, Kashmir, Leh-Ladakh, Himachal Pradesh, Kerala, etc. Key segments driving growth from Gujarat include families/extended families, couples, group of friends, millennials/young professionals, businesses and b-leisure. Thomas Cook’s Gold Circle Partner outlet in Surat offers consumers end-to-end travel solutions with a bouquet of travel and travel related services, including: International & Domestic Holidays (Group tours, Personalised Holidays, Cruises, etc.), Value Added Services like Travel Insurance; Visa Services, etc.

Sharing an encouraging note on the latest development involving the disinvestment of Air India, Madhavan Menon, Managing Director – Thomas Cook India Group, says, “The 100% disinvestment of Air India along with Air India Express (AIXL) and Air India SATS Airport Services (AISATS) by the Government of India is a significant move that reiterates its commitment towards disinvestment and certainly one that we welcome wholeheartedly. Across our companies at Thomas Cook, SOTC, TCI and our global Destination Management Specialists, we  couldn’t have hoped for a better buyer than the Tata Group who had created a world class airline in 1932, with the Maharaja ruling global skies till it was nationalised in 1953. This move will certainly be a long term play for the Tatas and with noteworthy aviation brands in their portfolio, several strategic options that are available to the team at Bombay House. We look forward to supporting the Tata Group and a re-emergence of the tourism sector with a powerful Indian aviation brand – leading from the front.”  

Air India’s divestment process is finally successful with TATA Sons’ SPV – Talace Pvt Ltd, winning the bid of the national carrier for Rs 18000 crore. The Cabinet Committee on Economic Affairs  (CCEA) – empowered Air India Specific Alternative Mechanism (AISAM) comprising of Amit Shah Union Minister for Home Affairs and Cooperation; Nirmala Sitharaman, Union Minister for Finance & Corporate Affairs; Piyush Goyal, Union Minister for Commerce and Industry and Jyotiraditya Scindia, Union Civil Aviation Minister, approved the highest price bid of M/s Talace Pvt Ltd, a wholly owned subsidiary of M/s Tata Sons Pvt. Ltd for sale of 100% equity shareholding of Government of India in Air India along with equity shareholding of Air India in AIXL and AISATS. The winning bid is for Rs 18,000 crore as Enterprise Value (EV) consideration for AI (100% shares of AI along with AI’s shareholding in AIXL and AISATS).  The transaction does not include non-core assets including land and building, valued at Rs 14,718 crore, which are to be transferred to GoI’s Air India Asset Holding Limited (AIAHL). The process for disinvestment of Air India and its subsidiaries commenced in June 2017 with the ‘in-principle’ approval of CCEA. The first round did not elicit any Expression of Interest. The process re-commenced on 27 January 2020 with issue of Preliminary Information Memorandum (PIM) and request for Expressions of Interest (EOI). The original construct as per the January 2020 PIM envisaged (i) pre-determined, fixed amount of debt to be retained in AI (with balance to be transferred to Air India Asset Holding Limited (AIAHL) and (ii) the sum of certain identified current and non-current liabilities (other than debt) to be retained in AI and …

German airline Lufthansa on Wednesday received an investor for 2.14 billion euro ($2.47 billion). This will help motivate travel companies looking to weather the after effects of the COVID-19 crisis. The company said that its rights issue was 98.36% subscribed by investors, and the remainder was quickly sold in the open market soon after.

Guidelines for the Recognition of Tourism Service Providers of West Bengal has been approved and released by the state government. The new guidelines will replace the 2006 policy. Nandini Chakravorty, Principal Secretary, Tourism Department of West Bengal and the Tourism Department of West Bengal have made significant changes in the policy such as categorization of Tour Operators into Inbound, Domestic, MICE, Cruise and Adventure to enable them to specialize and extend superior services. The new guidelines categorically define the different segments of service providers as per the current industry structure.

Fully vaccinated Indians travelling to the United Kingdom will not be quarantined from October 11, the British High Commissioner to India, Alex Ellis, announced on October 7. Covishield or another UK approved vaccine now accepted by the UK government.”I’ll be cutting 47 destinations from our red list including South Africa, with just 7 countries and territories remaining banned, all others will be included in the “rest of world” category. I’m also making changes so travellers visiting England have fewer entry requirements, by recognising those with fully-vaccinated status from 37 new countries and territories including India, Turkey and Ghana, treating them the same as UK fully vaccinated passengers”added Rt Hon Grant Shapps, Secretary of State for Transport, UK

Arvind Singh, Secretary, MOT, in his address at the Buddhist Circuit conference in Varanasi, shared that in a ministerial meeting, the Prime Minister has said that at the launch of Kushinagar airport, he would like to invite some Buddhist Circuit tour operators as well, so that they can get information about the circuit. Also, there will be 13 Buddhist countries’ ambassadors, as well as airline operators, since the idea is to promote the Buddhist religious tourism in the region.

Ministry of Home Affairs (MHA) has decided to begin granting fresh tourist visas for foreigners coming to India through chartered flights with effect from October 15, 2021.  Foreign tourists entering into India by flights other than chartered aircraft would be able to do so only with effect from November 15, 2021 on fresh Tourist Visas.  All due protocols and norms relating to COVID-19 as notified by the Ministry of Health & Family Welfare from time to time, shall be adhered to by the foreign tourists, carriers bringing them into India and all other stakeholders at landing stations.

EQT Private Equity is set to sell a majority stake in VFS Global to Blackstone and retain a minority position. According to sources, the acquisition is estimated at over $2 billion valuation. Zubin Karkaria, CEO of VFS Global, further commented, “On behalf of the entire VFS Global team, I want to thank EQT for the very collaborative and value enhancing partnership over the past five years. With EQT’s trust and support – especially during the COVID-19 pandemic – we are in a much stronger position today and look forward to the next phase of growth together with Blackstone.”

Apeejay Surrendra Park Hotels has announced the signing of Zone Connect Darjeeling in West Bengal. Zone Connect brand falls under Zone by The Park portfolio. Currently, the hotel is undergoing phased upgradation and is being primed to open its doors to welcome guests in the coming winter season. The 65-rooms hotel is a perfect fusion of tastefully crafted contemporary décor with wooden flooring, state-of-the-art infrastructure, and modern amenities. Vikas Ahluwalia –General Manager and National Head – Zone by The Park Hotels, said “This strengthens our position in the East along with Zone by The Park, Kolkata and our upcoming hotel Zone by The Park Dimapur, which is expected to open by the end of this financial year.”