Deal for Nordic units of Thomas Cook could save 2,300 jobs

COPENHAGEN, Denmark (AP) — A Norwegian hotel and property developer and two equity funds have bought the Nordic subsidiaries of the failed Thomas Cook travel agency, potentially saving some 2,300 jobs.

Petter Stordalen and Scandinavian fund Altor have each acquired 40 per cent of Ving group while London-based TDR Capital control the remaining 20 per cent. A price was not disclosed.

The group includes the charter businesses in Sweden, Norway, Denmark, Finland, totalling 2,300 employees, and the Thomas Cook Airlines Scandinavia, which would be renamed Sun Class Airlines. Stordalen told a news conference in Stockholm yesterday that the former Thomas Cook businesses would continue and customers could book holidays.

In September, British tour operator Thomas Cook, which has subsidiaries in several European countries, collapsed after failing to secure rescue funding.