Thomas Cook India has established its first European Union presence by opening an office in Nicosia, Cyprus, the company announced today. The new subsidiary, Travel Circle International (Cyprus) Limited (TCI Euro), will initially focus on serving business travellers from multinational and India-based corporations with European operations. The shares of Thomas Cook (India) Limited were trading at ₹145.40 down by ₹0.55 or 0.38 per cent on the NSE today at 1.55 pm. The Cyprus office was inaugurated by Indiver Rastogi, President & Group Head of Global Business Travel at Thomas Cook India, and Sanjay Tugnait, President & CEO of Fairfax Digital Services, alongside Cyprus Deputy Minister of Tourism Kostas Koumis and the Indian High Commissioner to Cyprus. According to Managing Director & CEO Mahesh Iyer, the expansion targets “the rapidly expanding business travel opportunity” while providing clients “special local EU-pricing and inventory, and a seamless customer experience.” The company aims to leverage the Cyprus location to access competitive European pricing unavailable in India. The strategic move comes as Indian corporations increasingly expand into European markets. Thomas Cook India plans to eventually diversify its European offerings beyond business travel services. Thomas Cook India Group currently operates across 28 countries spanning five continents. The company’s majority shareholder is Fairbridge Capital (Mauritius) Limited, a subsidiary of Fairfax Financial Holdings Limited, which holds a 63.83 per cent stake in the business. The Cyprus office represents Thomas Cook India’s latest initiative to strengthen its global footprint in the travel services sector.
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