TCIL standalone reported a loss of Rs. 27 Mn. Vs the EBT of Rs. 548 Mn. in the quarter ended in June 2019. At a consolidated level, the loss stood at Rs. 1361 Mn. (Vs the EBT of Rs. 399 Mn. in the quarter ended June 2019).

Thomas Cook (India) Limited (TCIL) India’s largest integrated travel services company, announced its financial results for the quarter ended June 30, 2020. The Group witnessed the impact of the lockdown of domestic and international borders since March 2020 across its global network during the quarter. The company was therefore unable to undertake normal business activities, with a consequential impact to its financial performance.

TCIL standalone reported a loss of Rs. 27 Mn. Vs the EBT of Rs. 548 Mn. in the quarter ended in June 2019. At a consolidated level, the loss stood at Rs. 1361 Mn. (Vs the EBT of Rs. 399 Mn. in the quarter ended June 2019).

However, the Group’s cash and bank deposits are at Rs. 9177 Mn. as of June 30, 2020 and is adequate to deal with the commitments for the coming quarters. The Company is tracking favourably versus internal targets that were reset for the quarter in light of the pandemic in terms of financial performance, business recovery and on costs

Madhavan Menon, Chairman and Managing Director, Thomas Cook (India) Ltd. said, “Despite the stark backdrop of the COVID-19 pandemic that impacted our core businesses significantly during this period, the teams across the Group demonstrated leadership and resilience. Our proactive & sustainable restructuring programme, combined with reimagining of our businesses have helped us put the worst behind us. With clear signs of retail travel revival visible now, we have drawn up a focused Product, Marketing & Sales plan to accelerate recovery.”

“We are tracking favourably versus our internal targets that were reset in light of the pandemic, and are now witnessing doubling of enquiries and paid bookings week-on-week for the upcoming Festive Season and right through to Summer 2021. In July we took over dnata Travel’s extensive Corporate Travel portfolio - reinforcing the Group’s continued leadership in the Corporate Travel space. The launch of 'Assured', our comprehensive Safe Travel Programme in partnership with Apollo Clinics and our recent pan India COVID-negative certification services partnering ICMR accredited labs, have been successful in reinforcing customer confidence to travel again,” he added.

The Foreign Exchange business, classified as an essential service, restarted operation on April 16th, completing over 25000 transactions for the period since. The business registered a gross volume of Rs. 6.35 Bn. since with a revenue recovery of 29 per cent. 

Similarly, the Holidays business across Thomas Cook & SOTC reopened in phases post May 4th, tapping into the pent up travel demand. Holiday booking run rates for the upcoming festive season right through to Summer 2021 have been doubling week on week since June and both brands are seeing a healthy pipeline of enquiries

The Corporate Travel business that restarted in June after the resumption of domestic flights, has registered a revenue recovery of 12 per cent. The business is witnessing an over 366 per cent increase in transactions in July Vs May 2020, and a very encouraging forward pipeline.

Furthermore, TCIL & SOTC have partnered with ICMR accredited medical centers pan India, becoming the first travel service providers in the country to offer seamless, end-to-end COVID-negative certification services. This is in extension to the Thomas Cook & SOTC Assured Safe Travel Programme in partnership with Apollo Clinics, that ensures meticulous health and safety protocols at every stage of the customer journey.

Leisure Travel businesses of Thomas Cook & SOTC have (as of August 4th) reopened 175 retail travel outlets across 77 cities; gone live with a unique Virtual Outlets & Virtual Agent Network model to ensure a contactless customer experience basis customer requirement in the COVID environment. Over 100+ new holiday packages have been launched at affordable price points with attractive offers. Joint Products-Contracting-Operations (PCO) Team set up for Thomas Cook & SOTC – to leverage buying efficiencies and productivity

In the same manner, Business Travel has commenced implementation of a new booking tool to facilitate smooth digitisation of customer experience; bots being developed to enhance customer experience. E-submissions are under implementation - initiated for select customers. A model of Centralised Service Delivery Hubs will ensure seamless remote delivery.