Thomas Cook buys Jet Tours

Thomas Cook is continuing its spending spree following its EUR70 million purchase of French tour operator Jet Tours from Club Mediterranee.Thomas Cook said the buy will be funded from its existing cash resources.

It also said it is buying TriWest Travel Holdings, an independent travel wholesaler in Canada for US$112m.

A combined Jet Tours and Thomas Cook France will form the country’s third largest tour operator.

Thomas Cook said it expects to realise “substantial” synergies from the integration of the two businesses.

Earlier this year, Thomas Cook bought hotel bookings website and luxury travel firm Elegant Resorts.