“Business travel is coming back. Holiday bookings are also coming back. After April, international travel may come back,” Menon said after Thomas Cook India’s third quarter earnings statement.
Menon, a travel industry veteran who spent two decades with Thomas Cook, believes the industry is moving towards a more regular mode of operation. “We’re starting to advertise again. The focus is on selling vacation packages. Although group vacation packages aren’t in as much demand, we expect that to change,” he said. . He said holidays to India and to nearby international destinations were the most popular.
“We were the biggest sellers of vacation packages in the Maldives. We also sold the most tickets for Cordelia cruises,” he said.
Thomas Cook India reached a milestone in the previous quarter after six consecutive quarters of losses. It posted operating profit for the October-December quarter. It had consolidated sales of ₹750 crore in the quarter.
Menon believes the business has become much more efficient since the pandemic began. “We have reduced costs by 44% at group level since 2020. The organization is now the right size,” he said. The cost savings have been achieved by integrating the backend of Thomas Cook and SOTC activities and adopting more online business methods, he said.