Thomas Cook cancels airline deal

Thomas Cook has cancelled plans to merge its German charter airline Condor with rival Air Berlin after discussions with the competition regulator.                                                                   (Image: Newscom.com)
The German Cartel Office had expressed concerns that the deal could reduce holidaymakers’ choice of flights to popular Mediterranean destinations.
Thomas Cook said Condor was still a “strong business” and was looking for an alternative deal.
The two airlines announced plans to merge in September 2007.
In the light of discussions about alternative options for Condor, Thomas Cook also said it was suspending its 375m euro (£299m) share buy-back deal.
Thomas Cook expected savings from the merger to total 70m euros …read more