Thomas Cook India inks long term agreement to set up Forex outlets at Manohar International Airport, Mopa – Goa

Thomas Cook India has positioned itself as India ka Forex Specialist with continued focus on the foreign exchange segment and sustained leadership in the space.

Thomas Cook (India) Limited, India’s leading omnichannel travel services company, inaugurated new Forex outlets at the new Manohar International Airport - at Mopa, Goa. The Company has won a 5 year contract for setting up and operating 4 foreign exchange counters at the new Goa Airport. This expands Thomas Cook India’s forex network/consumer access in Goa to 6 outlets: 2 branches and 4 airport outlets. In addition, the company operates 25 airport counters across India, Sri Lanka and Mauritius.

In an initiative to ensure safe, seamless and convenient merchant payments, Thomas Cook’s Goa airport counters will empower foreign nationals from G20 nations and NRIs, with UPI enabled Indian Rupee transactions on arrival. Travellers can then access their INR wallet to ensure smooth and secure digital payments across millions of merchant establishments equipped with the UPI QR facility pan India. The prepaid payment product is issued by Pine Labs under the PPI authorisation obtained from RBI.

Goa is a key and significant growth market for tourism – for both inbound and outbound, in addition to the domestic market. With strong pent-up demand and easing of restrictions driving positive consumer sentiment, consumers are displaying high travel desire. The new Mopa Airport is expected to serve approx. 4.3 Mn passengers in the first year with an increase to approx. 13.1 Mn passengers within 5 years. The new forex counters at the airport offers Thomas Cook significant opportunity to capitalize on the foreign exchange requirements of both inbound and outbound travellers.

Thomas Cook’s new airport counters have been designed around the concepts of “Ethnicity – Luxury – Comfort”, creating a refreshing and vibrant appeal. The outlets prioritise passenger comfort with an open layout concept and high/low counters. An important factor is the focus on Indian elements, deployment of Indian art forms, motifs and gold arches. In keeping with the Company’s focus on protecting the environment, what is noteworthy is the use of sustainable material.

Thomas Cook India has positioned itself as India ka Forex Specialist with continued focus on the foreign exchange segment and sustained leadership in the space. The Company is the largest non-bank foreign exchange services provider in India and serves over a million customers every year.

Mr. Deepesh Varma, Executive Vice-President – Foreign Exchange, Thomas Cook (India) Limited said, “Goa is a strong high growth market for us at Thomas Cook India. With the new Manohar International Airport at Mopa (Goa), and its anticipated passenger loads of approx. 13.1 Mn in 5 years, we foresee a significant forex requirement in the region. We are hence delighted to announce Thomas Cook’s successful bid for a 5 year contract at Goa’s Mopa airport. Our four new foreign exchange counters will ensure smooth and secure customer transactions at this prime gateway airport.

Forex is a key business line for the Company and our strong focus has ensured our leadership - as India’s largest non-bank Foreign Exchange service provider. This contract will further strengthen Thomas Cook India’s presence in this growing forex market with presence at Goa’s new airport.”

Thomas Cook’s Forex business leveraged India’s rapidly growing digital ecosystem to accelerate its digital transformation.

The company’s unique omnichannel model empowers customers with choice and convenience: simple, secure and quick bookings via its online forex store; the FXMATE digital tool supports over 1500 B2B partners with virtual Foreign Exchange services; also support through its call centre or by walking in to their closest forex outlet to transact with an in-store expert. Thomas Cook India’s FxNOW ushers in a digitized foreign exchange model that ensures seamless and contactless forex services. The Company also takes care of the customers’ Forex requirements via a convenient process to ensure an unparalleled customer commitment in the form of Gharpe Forex - doorstep delivery in 2 hours!

About Thomas Cook (India) Limited: Set up in 1881, Thomas Cook (India) Limited. (TCIL) is the leading omnichannel travel company in the country offering a broad spectrum of services including Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Value Added Services and Visa Services. It operates leading B2C and B2B brands including Thomas Cook, SOTC, TCI, SITA, Asian Trails, Allied TPro, Australian Tours Management, Desert Adventures, Travel Circle International Limited (TCI 勝景), Sterling Holiday Resorts Limited, Distant Frontiers, TC Tours, Digiphoto Entertainment Imaging (DEI), Go Vacation, Private Safaris East & South Africa

As one of the largest travel service provider networks headquartered in the Asia-Pacific region, The Thomas Cook India Group spans 28 countries across 5 continents

TCIL has been felicitated with The Outbound Tour Operator of the Year 2022 & 2019 at the SATTE Awards, IAMAI India Digital Awards 2022, CNBC-TV18 & ICICI Lombard India Risk Management Award - Travel & Leisure Category 2022 & 2021, CIO100 Award for digital innovation 2022, ‘Innovation in Omni-experience’ Award at International Data Corporation’s (IDC) Industry Innovation Awards 2021, The Best Travel Agency – India at TTG Travel Awards 2019, The Best Outbound Tour Operator at the Times Travel Awards 2019 & 2018, Silver award for Asia's Best Integrated Report (First Time) category at the Asia Sustainability Reporting Awards 2019-2021, Best Risk Management-Framework & Systems at the India Risk Management Awards 2019; The French Ambassador’s Award for Exemplary Achievements in Visa Issuance 5 years in a row and the Condé Nast Traveller – Readers’ Travel Awards from 2011 to 2019.

CRISIL has reaffirmed the rating on debt programmes and bank facilities of Thomas Cook (India) Limited - ‘CRISIL A+/Negative on the long-term bank facilities of TCIL and CRISIL A1 rating on the short-term bank facilities and short- term debt of the Company.

For more information, please visit www.thomascook.in

Fairbridge Capital (Mauritius) Limited, a subsidiary of Fairfax Financial Holdings Limited promotes TCIL by holding 72.34% of its paid-up capital and is responsible for the execution of acquisition and investment opportunities.

About Fairfax Financial Holdings Limited: Fairfax Financial Holdings Limited is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. Founded in 1985 by the present Chairman and Chief Executive Officer, Prem Watsa, the company is headquartered in Toronto, Canada. Its common shares are listed on the Toronto Stock Exchange under the symbol FFH and in U.S. dollars under the symbol FFH.U.

About Subsidiaries of Thomas Cook (India) Limited:

Sterling Holiday Resorts Limited, a wholly owned subsidiary of TCIL, is a leading Indian Leisure Hospitality company with 37 resorts across the country, providing a variety of offerings: Leisure holidays through FIT packages, Meetings & Conferences, Weddings, Reunions, Picnics and Holidays through Memberships.

SOTC Travel Limited, a wholly owned subsidiary of TCIL, is a leading omnichannel travel and tourism company active across various travel segments including Leisure Travel, Incentive Travel and Business Travel.

Travel Corporation (India) Limited (TCI), a wholly owned subsidiary of TCIL, is the leading Destination Management Company in India that offers tailor-made travel and related services to India, Nepal, Bhutan and Sri Lanka.

Thomas Cook India Group holds 51% stake in DEI Holdings Limited (DEI), one of the world’s leading imaging solutions and services providers.