Poland’s eSky finalises Thomas Cook buyout

Polish online platform eSky Group has acquired the world’s oldest travel agent, Britain’s Thomas Cook, for up to GBP 30mn, after receiving regulatory approval from the UK’s Civil Aviation Authority.

Known primarily for its flight services, the purchase of Thomas Cook, originally announced last month, signals eSky’s ambition to move beyond flights and establish itself as a comprehensive online travel agency (OTA).

The Polish group will operate in 50 countries and is aiming to capture a larger slice of the European travel market, particularly in the UK, the Netherlands and Belgium, where Thomas Cook is a household name.

CEO of eSky Lukasz Habaj said “adding Thomas Cook to the eSky family of brands is a key part of our transformation into a dynamic package seller and OTA”.

Synergising operations, tech

Thomas Cook’s 70-strong payroll will join eSky, including CEO Alan French, now chief holidays officer at eSky, contributing extensive expertise. French said, “We are on track to end the year with almost GBP 115mn in turnover: the integration with eSky’s technology and resources will help re-establish Thomas Cook as a leading holiday provider.”

The proprietary technology of eSky, which integrates 560 airlines, will support Thomas Cook in expanding its flight options and package offerings, creating more competitive pricing and travel options. The technological integration aims to streamline operations, optimise costs, and drive substantial savings, supporting eSky’s medium- to long-term profit goals.

Reviving legacy travel brand

The acquisition marks a revival of the Thomas Cook brand, which was previously acquired by China’s Fosun in 2019 after its financial collapse. eSky’s investment will modernise Thomas Cook’s operations, leveraging advanced technology and new market strategies to attract European customers and re-establish the UK firm as a prominent industry player.

With Thomas Cook now under its wing, eSky is positioned to compete more effectively with other established OTAs. By integrating Thomas Cook’s expertise with its proprietary tech, eSky plans to enhance operational efficiency and provide a wider range of services. This acquisition also signals eSky’s commitment to diversifying from a flight-focused platform to a fully-fledged OTA.

Strategic pan-European expansion

Beyond strengthening its brand portfolio, eSky’s acquisition of Thomas Cook is set to deepen its reach across European markets. With its roots in CEE, eSky’s entry into Western Europe marks a strategic shift, expanding its offerings into a more competitive segment and aligning with its vision to become a leading OTA.

By merging Thomas Cook’s historic brand and holiday expertise with eSky’s technical capabilities, the acquisition is expected to drive substantial growth, reviving the legacy brand and enhancing eSky’s competitiveness in the highly competitive online travel sector.

Habah said: “The objective is to deliver strong growth into 2025 while maintaining the company’s profitability achieved, in part, by streamlining processes and enhancing margins through the introduction of a comprehensive range of additional services tailored to the eSky customer base. Furthermore, the implementation of our tech solutions will result in considerable savings, thereby significantly improving profitability.”