Thomas Cook (India) Ltd is the largest integrated travel and travel related financial services company in India. The company offers a range of services that include foreign exchange, corporate travel, leisure travel, and insurance. Their subsidiaries include Travel Corporation (India) Ltd, Thomas Cook Insurance Services (India) Ltd, Thomas Cook Tours Ltd, Indian Horizon Travel & Tours Ltd and Thomas Cook (Mauritius) Holding Company Ltd. The company has overseas operations in Sri Lanka which is a branch of TCIL and Mauritius which is a subsidiary of Thomas Cook (India) Ltd. The company along with their subsidiaries has their presence in 166 locations in India and seven countries outside of India.
The company operates in two segments, namely foreign exchange and financial services, and travel and related services. Foreign Exchange and Financial Services deals with providing travel related foreign exchange & payment solutions. The company also offers credit cards and financial services relating to travel insurance. Travel and Related Services include consumer leisure travel retailing, travel management services, leisure inbound service and general sales agency business.
Thomas Cook (India) Ltd was incorporated as Thomas Cook (India) Pvt Ltd on October 21, 1978. The name of the company was changed to Thomas Cook (India) Ltd on March 07, 1979. The company was originally promoted by Thomas Cook Group Ltd, the history of which can be traced back to the founder Thomas Cook. He commenced business in the United Kingdom in 1841 which included organizing group tours called Cook's Tours. In accordance with the permission granted by RBI, Thomas Cook Overseas Ltd transferred their business in India to the company as a going concern with effect from November 01, 1978.
In the year 1994, the company transferred their cargo business to their subsidiary company. The company set up a Leisure Travel department to promote domestic and outbound holiday travel, within India and to others parts of the world. In the year 1996, the company opened a foreign exchange office at Jallandhar in Punjab and foreign exchange counter at Kolkata International Airport. They also inaugurated full-fledged offices at Saltlec in Calcutta and the Indian Institute of Sciences at Bangalore.
In the year 1998, the company successfully established their first ever implant with State Bank of India at Calangute in Goa. The company also launched Visa Travel Money Card, a pre-paid ATM card which enables the traveler to withdraw local currency from more than 44,000 Visa ATMs across 117 countries worldwide.
In the year 2000, the company signed the Name License and Technical Assistance agreement with Thomas Cook Holdings, UK, for operating in the Indian Ocean Rim region of India, Bangladesh, Nepal, Bhutan, Syechelles, Maldives, Mauritius, Myanmar, and Sri Lanka etc. They also acquired the business of Thomas Cook's overseas business in Sri Lanka for Rs 2.74 crore. The company opened their second office in Mauritius at Port Louis.
In the year 2001, the company opened their leisure travel office in Panjim, Goa for targeting up-market tourists. In June 2001, they launched India's first ever Ticket Auctions on Bidorbuyindia.com with their European tickets. In April 2002, Thomas Cook Insurance Services (India) Ltd, a wholly owned subsidiary of the company was given the corporate agency license of TATA - AIG General Insurance Company.
In the year 2003, the company won two key new accounts from Belgium and the Netherlands for their inbound charter handling business. The company along with Galileo India issued the first e-ticket in India through the Global Distribution System. They issued the first remotely printed international airline ticket at the office of one of their key customers.
In the year 2004, the company incorporated four step-down subsidiary companies during the year, two each in Mauritius and Sri Lanka. In Mauritius, the company incorporated Thomas Cook (Mauritius) Travel Ltd to undertake the business of General Sales Agent (GSA) of Airlines operating out of Mauritius while Thomas Cook (Mauritius) Holidays Ltd was incorporated to undertake the Indian outbound tourist business in Mauritius. Both these companies are wholly owned subsidiaries of Thomas Cook (Mauritius) Holding Company Ltd.
In Sri Lanka, the company incorporated Thomas Cook Lanka Holdings (Pvt) Ltd as an investment vehicle for the company's investments in Sri Lanka. This company is a wholly owned subsidiary of Thomas Cook (Mauritius) Holding Company Ltd. The other company incorporated is Airline Services Lanka (Pvt) Ltd, the wholly owned subsidiary of Thomas Cook Lanka Holdings (Pvt) Ltd to undertake the business of General Sales Agent (GSA) of Airlines operating out of Sri Lanka.
The company commenced General Sales Agency (GSA) operations through their subsidiary Airline Services Lanka (Pvt) Ltd and Thomas Cook (Mauritius) Travel Ltd by entering into an agreement with Condor.
In the year 2005, the company incorporated a step-down subsidiary in Thailand, named as Thomas Cook Travel & Foreign Exchange (Thailand) Ltd and a wholly owned subsidiary in Singapore named as Thomas Cook Travel & Foreign Exchange (Singapore) Pte Ltd. Also, they opened a new outlet at Union Place, the prime area in Colombo for retail businesses.
In the year 2006, the company acquired the LKP Forex Ltd and Travel Corporation (India) Ltd. Also, they sold their 100% stake in Hindustan Cargo Ltd. In March 2006, the Leisure and Corporate Travel business started trading and offers inbound holidays, outbound holidays, and corporate travel services. In February 2007, the company launched their new premium holidays brand '100% Holidays'. In March 2007, the company and ICICI Bank launched Thomas Cook Titanium Mastercard.
In December 2007, the company signed a MOU with JTB Corp, Japan, in which the company able to access the JTB Corp network across 30 countries along with affiliates spreading over 800 offices. For JTB Corp, the alliance provides a ready platform to enter the Indian market. The company closed down their operations in Thomas Cook Travel (Thailand) Ltd and Thomas Cook Travel & Foreign Exchange (Singapore) Pte Ltd.
In the year 2008, the company made a tie up with Axis Bank for pre-paid forex card which offers exchange of upto 7 currencies. In October 2008, the company made a tie up with that ItzCash from the Essel group stable to facilitate online travel bookings. In December 2008, the company made a tie up with cruise line operator Indian Ocean Cruises of London based Foresight Smart Ventures, to market the heritage cruise Ocean Odyssey in India and Mauritius.