Thomas Cook India Group expands its global footprint, Enters the European Union with its office in Cyprus

• Strategic presence to leverage on the strong growth potential of the Business Travel Segment

Mumbai, May 16, 2025: India’s corporates and multi-national companies are expanding rapidly, and Europe has been emerging strongly on their radar. To capitalize on the large EU market potential, Thomas Cook (India) Limited, India’s leading omnichannel travel services company has established its presence in the European Union (EU) by setting up its first office in Cyprus (Nicosia). The Company - Travel Circle International (Cyprus) Limited (TCI Euro) is a subsidiary of Thomas Cook (India) Limited through its wholly owned subsidiary - Travel Circle International (Mauritius) Ltd. The company will focus on the business travel needs of both its multinational clients and India-based clients with a presence in Europe.

TCI Euro, has been strategically setup to benefit business travellers based in Europe, by offering special local pricing and inventory for air and non-air services - that are not available in India. Setting up its first EU office offers multi-pronged, long-term opportunity to Thomas Cook India, opening up the Europe market for a diversity of its travel segments – starting with business travellers.

The Cyprus office was inaugurated by Indiver Rastogi, President & Group Head, Global Business Travel, Thomas Cook (India) Ltd and Sanjay Tugnait, President & CEO - Fairfax Digital Services (A Fairfax Company) in the presence of esteemed government officials: Kostas Koumis, Deputy Minister of Tourism of Republic of Cyprus, Manish Manish, High Commissioner of India to Cyprus and business partners Karavias Fokion, Group CEO of Eurobank Greece & Srini Rao, Executive VP & Chief Business Officer - LTIMindtree Ltd

Thomas Cook India’s EU foray – Business Rationale

· EU Market Access: inroads into the EU’s extensive travel opportunity, facilitating seamless operations across member states

· Pricing Advantage: Offers access to competitive EU local pricing and inventory

· Improved Customer Experience: Local presence in Europe to enhance overall customer service

· Expansion of segments: Commencing with business travel, opportunity to leverage multiple travel sectors

Mahesh Iyer – Managing Director & Chief Executive Officer, Thomas Cook (India) Ltd said, “The inauguration of our office in Cyprus heralds our foray into the high-potential European market. Our intent is to target the rapidly expanding business travel opportunity, across our business travel clients operating with a presence in Europe. The advantages to our business travellers include special local EU-pricing and inventory, and a seamless customer experience.”

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 Outbound Travel Operator of the Year (2024) and MICE Travel Operator of the Year (2024 & 2023) at The Economic Times Travel & Tourism Annual Awards, MICE Travel Agency (Outbound) at the Economic Times MICE & Wedding Tourism Awards 2024, 'Masters of Risk - Travel & Hospitality' at India

Risk Management Awards 2024, MICE Tour Operator of the Year - Outbound at SATTE 2024, Best Tour Operator at India Travel Awards North 2023, winner of the Corporate Citizen Award (Travel Tourism & Hospitality) at the Corporate Citizen Conclave & Award 2023, The Outbound Tour Operator of the Year 2022 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.

CRISIL has reaffirmed the rating on debt programs and bank facilities of TCIL - ‘CRISIL AA- / Positive’ 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, is the promoter of TCIL with a shareholding of 63.83% of its paid-up capital.