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The Scottish Passenger Agents’ Association

Our mission is to ensure the Scottish travel marketplace is fair for consumers and travel agents. Representing all
of Scotland's major travel agents and working with our Associate members we tackle the biggest regulatory,
legislative and commercial challenges facing our industry.
We are the voice of Scotland's travel profession.

Image depicting current issues being tackled by the SPAA
Thomas Cook needs to survive for the good of the industry. Read on below...

From the President

Thomas Cook needs to survive for the good of the industry

Thomas Cook needs to survive for the good of the industry

Despite Thomas Cook distancing themselves from the agency community during the last year, the 178 year old company built up of a number of factors that have led to the shock announcement that certain brokers consider their shares are worthless. That advice came from financial analysts Citigroup, who just happen to be advisors to Fosun, the Chinese conglomerate who are looking to buy Thomas Cook Airlines and possibly the whole business.That announcement suddenly reduced the value of the airline by £120 million, no doubt to the delight of Fosun. However, Cook's troubles have been building for a number of years and whilst they have been keeping their head above water, any downturn in sales two years running in a vertically-integrated company has a much more damaging effect when the whole group…

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