Thomas Cook's new owner plans relaunch in the face of the coronavirus pandemic
While other travel firms slash jobs or go into administration, the Chinese firm that bought up the rights to Thomas Cook are plotting a relaunch of the iconic business
When Thomas Cook fell into liquidation last summer, the rights to the name and brand were snapped up by a Chinese firm for £11million - and now that firm is plotting a relaunch.
Fosun, which had been a big shareholder in Thomas Cook before the collapse, is looking at bringing the brand back as an online travel agent as soon as this month, Sky News is reporting.
The announcement will depend on Fosun getting regulatory approval as well as quarantining restrictions on British citizens.
The new version of Thomas Cook would not have its own airline, hotel or high street branches - instead working online only.
Most of Thomas Cook's high street branches were sold to family-owned Hays Travel, while many of it's airline's take off and landing slots went to Jet2 and easyJet.
Planes and hotels were also sold off as the firm struggled to cover its debts.
The plans for the travel agent's rebirth were developed before coronavirus struck, and come as many of the firms that snapped up Thomas Cook's staff and assets struggle.
Last month Hays said it would cut up to 878 jobs in an effort to cut costs, while EasyJet has closed bases at Standsted, Southend and Newcastle airports.
Jet2 also announced plans to cut pilots as the number of people taking foreign holidays collapsed.