Tag Archives: Thomas Cook India cards

Madhavan Menon, Chairman & Managing Director, Thomas Cook (India), has categorically denied a rumour floating against it on social media platforms. He said, “We have witnessed robust performances across all our key travel and foreign exchange businesses and continue to remain at a healthy financial position having prepaid our obligations and are debt free at a holding company level. We are bullish on both the foreign exchange as well as the inbound and outbound businesses. We are scouting for new investments and are looking for the right opportunity.” In a statement, the company claimed that they want to clarify that Thomas Cook (India is part of Fairfax Financial Holdings, is a completely different entity from Thomas Cook PLC and has been an independent company since August 2012. It also claimed that Thomas Cook (India) is financially strong, profitable and maintains a positive outlook in the travel and tourism sector and continues to witness strong growth. The statement said, “Cash and bank deposits balance of the Thomas Cook India Group (consolidated level) is at Rs. 10588 Mn. as of March 31, 2019. On a standalone basis Thomas Cook India is debt free upon pre-payment of Rs. 670 Mn debenture obligations ahead of schedule. This has been made possible using stable and strong cash flows that the Thomas Cook India Group is generating year over year. Group generates an annual free cash flow of around Rs. 2000-2500 Mn. As earlier reported, for the Financial Year ended March 31, 2019 on a comparable basis, the Group’s consolidated revenue from operations increased by 18% from Rs.56 Bn. to Rs.66 Bn. Consolidated PBT increased by 985% from Rs. 53 Mn. in FY18 to Rs. 573 …

Thomas Cook (India) has announced a strategic partnership with Euronet Worldwide, to introduce significant additional benefits on its unique prepaid travel cards—Thomas Cook Borderless Prepaid multi-currency and One Currency cards in India. Euronet becomes the exclusive technology partner for Thomas Cook India’s unique prepaid travel card programmes: Borderless Prepaid and One Currency. The Borderless Prepaid multi-currency card is a secure and convenient way to carry 8 global currencies in one card (US Dollar, Great British Pound, Euro, Canadian Dollar, Australian Dollar, Japanese Yen, Singapore Dollar, Swiss Franc), with benefits of emergency cash, surcharge-free ATM withdrawals in certain countries and insurance against fraudulent transactions. The Thomas Cook One Currency Card is USD loaded and guarantees a zero cross currency conversion fee across the globe. Thomas Cook’s prepaid travel cards can be used across merchant outlets, online portals and ATMs globally. All cards issued by Thomas Cook India will be hosted and managed on Euronet’s payments processing and card issuing platform. This platform not only offers the routine features of a prepaid card system, but is configurable to help Thomas Cook roll out customised options to meet specific customer needs – across business, leisure, b-leisure, student, etc.