C&N's takeover of Thomas Cook is expected to result in close co-operation between their respective in-house airlines, Condor and JMC, in the areas of aircraft, fuel and spare parts purchasing and training.
German tour operator C&N is purchasing Thomas Cook for £550 million ($785 million) in a deal that will create the world's third-largest holiday group, subject to European Commission approval. The take-over was expected after the UK company was put up for sale by rival German giant Preussag following the latter's successful bid for Britannia Airways' parent, the Thomson Travel Group.
Thomas Cook says the aircraft fleets of JMC and Condor are "very complementary, more so than was the case with our previous owner Preussag. Airlines is one of the areas we will be looking at once the take-over is approved," it adds.
Condor, part-owned by Lufthansa, and JMC together operate around 70 aircraft and each has a substantial fleet of A320s and Boeing 757s. The German airline also operates the larger 767, which shares a common type rating with the 757.
In a separate development, Thomas Cook and British Airways are to merge their UK-originating scheduled tour operations, again subject to EC approval. Each will take a 50% shareholding in the combined company.
BA has meanwhile announced it will be winding up co-operation with Airline Management (AML) in 2002. AML operates three Boeing 777s from Gatwick to Caribbean destinations on behalf of BA, using the UK flag-carrier's pilots, but cabin crew supplied by JMC.
Source: Flight International
