PRESS RELEASE

Thomas Cook India reiterates that it is a completely separate en ty from Thomas Cook UK post acquisi on in 2012 by
Canada based Fairfax Financial Holdings. The media updates on Thomas Cook UK have no correla on and hence no
impact on Thomas Cook India Group.

Statement from Madhavan Menon, Chairman & Managing Director, Thomas Cook (India) Ltd.

• Thomas Cook (India) Ltd. was acquired by Fairfax Financial Holdings via a 77% stake in 2012

• Thomas Cook UK has had no stake in Thomas Cook (India) Limited since then

• Strong Financial posi on of the Thomas Cook India Group

• Cash and bank deposits balances stand at INR 13,890 Mn. as of June 30, 2019

• On a standalone basis Thomas Cook India is debt free upon pre-payment of INR 670 Mn debenture obliga ons
ahead of schedule.

• The Group generates an average annual free cash flow of around INR 2,500 Mn.

Mumbai, September 21, 2019: With the recent developments rela ng to the iconic Bri sh Travel Company, Thomas Cook
PLC, being reported in the media, it is impera ve to highlight that Thomas Cook India Group is a completely different
en ty since August 2012 when it was acquired by Fairfax Financial Holdings (Fairfax), a Canada based mul na onal with
varied interests across the globe as well as in India.

Post transfer of its en re stake in Thomas Cook (India) Limited to Fairfax, Thomas Cook UK ceased to be the promoter of
Thomas Cook (India) Limited from the said date and since then, Thomas Cook UK has had no stake in Thomas Cook (India)
Limited. The last seven years have been frui ul as we con nue to grow and build our legacy as an independent en ty a er
Fairfax Financial Holdings acquired a 77 percent stake in Thomas Cook India Ltd. (TCIL) in 2012.

Thomas Cook (India) Ltd. is a leading integrated transna onal travel and travel related services company offering a broad
spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa and Passport
services and E-Business. It operates leading B2C and B2B brands including Thomas Cook, SOTC, Sterling Holidays, TCI, SITA,
Asian Trails, Allied T Pro, Australian Tours Management, Desert Adventures, Travel Circle Interna onal Limited, Travel Junkie
(Ithaka), Digiphoto Entertainment Imaging (DEI), Private Safaris East & South Africa - across 29 countries, making it one of
the largest travel companies in the Asia Pacific region.

We believe that it is important that we clarify for the record that Thomas Cook (India) Limited is financially strong, profitable
and maintains a posi ve outlook in the travel and tourism sector and con nues to witness strong growth.

The Thomas Cook India Group's cash and bank deposits balances stand at INR 13,890 Mn. as of June 30, 2019.

On a standalone basis, Thomas Cook India is debt free upon pre-payment of INR 670 Mn debenture obliga ons ahead of
schedule. This has been made possible using stable and strong cash flows that the Thomas Cook India Group is genera ng
year over year.

The Group generates an average annual free cash flow of around INR 2,500 Mn.

Note:
Thomas Cook (Mauri us) Holdings Ltd. is a 100% subsidiary of Thomas Cook India Ltd. and both Thomas Cook (Mauri us)
Opera ons Ltd. & Thomas Cook (Mauri us) Holidays Ltd. are 100% subsidiaries of Thomas Cook (Mauri us) Holdings Ltd.
Both companies are in a sound financial situa on and are opera ng normally.
 





$ERXW 7KRPDV &RRN ,QGLD /LPLWHG 6HW XS LQ  7KRPDV &RRN ,QGLD /WG 7&,/ LV WKH OHDGLQJ LQWHJUDWHG WUDYHO DQG
WUDYHOUHODWHG ILQDQFLDOVHUYLFHVFRPSDQ\ LQWKHFRXQWU\RIIHULQJDEURDGVSHFWUXPRIVHUYLFHVWKDWLQFOXGH)RUHLJQ([FKDQJH
&RUSRUDWH7UDYHO0,&(/HLVXUH7UDYHO,QVXUDQFH9LVDDQG3DVVSRUWVHUYLFHVDQG(%XVLQHVV,WRSHUDWHVOHDGLQJ%&DQG
%% EUDQGV LQFOXGLQJ 7KRPDV &RRN 627& 7&, 6,7$ $VLDQ 7UDLOV $OOLHG 7 3UR $XVWUDOLDQ 7RXUV 0DQDJHPHQW 'HVHUW
$GYHQWXUHV7UDYHO&LUFOH,QWHUQDWLRQDO/LPLWHG'LJLSKRWR(QWHUWDLQPHQW,PDJLQJ'(,3ULYDWH6DIDULV(DVW 6RXWK$IULFD

$VRQHRIWKHODUJHVWWUDYHOVHUYLFHSURYLGHUQHWZRUNVKHDGTXDUWHUHGLQWKH$VLD3DFLILFUHJLRQ7KH7KRPDV&RRN,QGLD*URXS
VSDQVFRXQWULHVDFURVVFRQWLQHQWVDWHDPRIRYHUDQGDFRPELQHGUHYHQXHLQH[FHVVRI5V&URYHU
%QIRUWKHILQDQFLDO\HDUHQGHG0DUFK

7&,/KDVEHHQIHOLFLWDWHGZLWK7KH%HVW2XWERXQG7RXU2SHUDWRUDWWKH7LPHV7UDYHO $ZDUGV DQG/HDGLQJ
&RPSDQ\ZLWK&XWWLQJ(GJH7UDYHO,QQRYDWLRQDWWKH7LPHV7UDYHO$ZDUGV%HVW5LVN0DQDJHPHQW)UDPHZRUN 
6\VWHPV DW WKH ,QGLD 5LVN 0DQDJHPHQW $ZDUGV  %HVW &DVK 0DQDJHPHQW 6ROXWLRQ ± ,QGLD DW WKH $VVHW 7ULSOH $
7UHDVXU\ 7UDGH 6XSSO\ &KDLQ  5LVN 0DQDJHPHQW $ZDUGV  ([FHOOHQFH LQ 'RPHVWLF 7RXU 2SHUDWLRQV DW WKH
6$77( $ZDUGV  %HVW 7UDYHO (QWUHSUHQHXU RI 7KH <HDU DW 77* 7UDYHO $ZDUGV  7KH )UHQFK $PEDVVDGRU¶V
$ZDUG IRU([HPSODU\ $FKLHYHPHQWV LQ 9LVD ,VVXDQFH±  WR  DQG WKH &RQGp 1DVW 7UDYHOOHU ± 5HDGHUV¶ 7UDYHO
$ZDUGVIURPWR

&5,6,/KDVUHDIILUPHGWKHUDWLQJRQGHEWSURJUDPPHVDQGEDQNIDFLOLWLHVRI7KRPDV&RRN,QGLD/WGDWµ&5,6,/$$6WDEOHRQ
WKH ORQJWHUP EDQN IDFLOLWLHV RI 7&,/ DQG &5,6,/ $ UDWLQJ RQ WKH VKRUWWHUP EDQN IDFLOLWLHV DQG VKRUW WHUP GHEW RI WKH
&RPSDQ\

)RUPRUHLQIRUPDWLRQSOHDVHYLVLWZZZWKRPDVFRRNLQ

)DLUEULGJH&DSLWDO0DXULWLXV/LPLWHGDVXEVLGLDU\RI)DLUID[)LQDQFLDO+ROGLQJV/LPLWHGSURPRWHV7&,/E\KROGLQJRILWV
SDLGXSFDSLWDODQGLVUHVSRQVLEOHIRUWKHH[HFXWLRQRIDFTXLVLWLRQDQGLQYHVWPHQWRSSRUWXQLWLHV

$ERXW )DLUID[ )LQDQFLDO +ROGLQJV /LPLWHG )DLUID[ )LQDQFLDO +ROGLQJV /LPLWHG LV D KROGLQJ FRPSDQ\ ZKLFK WKURXJK LWV
VXEVLGLDULHVLVHQJDJHGLQSURSHUW\DQGFDVXDOW\LQVXUDQFHDQGUHLQVXUDQFHDQGLQYHVWPHQWPDQDJHPHQW)RXQGHGLQE\
WKHSUHVHQW&KDLUPDQDQG&KLHI([HFXWLYH2IILFHU3UHP:DWVDWKHFRPSDQ\LVKHDGTXDUWHUHGLQ7RURQWR&DQDGD,WVFRPPRQ
VKDUHVDUHOLVWHGRQWKH7RURQWR6WRFN([FKDQJHXQGHUWKHV\PERO))+DQGLQ86GROODUVXQGHUWKHV\PERO))+8

$ERXW4XHVV&RUS/LPLWHG7&,/RZQVRI4XHVV&RUS/LPLWHGDSURYLGHURILQWHJUDWHGEXVLQHVVVHUYLFHV

$ERXW 6XEVLGLDULHV RI 7KRPDV &RRN ,QGLD /WG 6WHUOLQJ +ROLGD\ 5HVRUWV /LPLWHG ZKROO\ RZQHG VXEVLGLDU\ RI 7&,/ LV
HQJDJHGLQWLPHVKDUHDQGUHVRUWEXVLQHVV

627&7UDYHO/LPLWHG)RUPHUO\NQRZQDV627&7UDYHO3ULYDWH/LPLWHGZKROO\RZQHGVXEVLGLDU\RI7&,/LVDOHDGLQJWUDYHODQG
WRXULVPFRPSDQ\DFWLYHDFURVVYDULRXVWUDYHOVHJPHQWVLQFOXGLQJ/HLVXUH7UDYHO,QFHQWLYH7UDYHODQG%XVLQHVV7UDYHO

7&,/ RZQV  RI 7& )RUH[ 6HUYLFHV /LPLWHG )RUPHUO\ NQRZQ DV 7DWD &DSLWDO )RUH[ /LPLWHG 7& )RUH[ DQG 7& 7UDYHO
6HUYLFHV /LPLWHG )RUPHUO\ NQRZQ DV 7& 7UDYHO DQG 6HUYLFHV /LPLWHG 7& 7UDYHO 7& )RUH[ RIIHUV WUDYHO UHODWHG IRUHLJQ
H[FKDQJH SURGXFWV LQFOXGLQJ &XUUHQF\ QRWHV 7UDYHO &DUGV DQG 7UDYHOOHU¶V FKHTXHV DQG 7& 7UDYHO RIIHUV D ZLGH UDQJH RI
VHUYLFHVLQFOXGLQJ$LUOLQHWLFNHWLQJ%RRNLQJ+RWHODFFRPPRGDWLRQ9LVDDQG3DVVSRUWIDFLOLWDWLRQ7UDYHOLQVXUDQFHDQGPRUH

7KRPDV &RRN ,QGLD *URXS KDV UHFHQWO\ FRPSOHWHG LWV DFTXLVLWLRQ RI D  VWDNH LQ '(, +ROGLQJV /LPLWHG '(, RQH RI WKH
ZRUOG¶VOHDGLQJLPDJLQJVROXWLRQVDQGVHUYLFHVSURYLGHUV

)RUPRUHLQIRUPDWLRQYLVLW
4XHVV&RUS/LPLWHGKWWSZZZTXHVVFRUSFRP
6WHUOLQJ+ROLGD\5HVRUWV/LPLWHGKWWSZZZVWHUOLQJKROLGD\VFRP
627&7UDYHO/LPLWHGKWWSZZZVRWFLQ


0HGLD(QTXLULHV
7KRPDV&RRN,QGLD/LPLWHG6X]DQQH3HUHLUD__VX]DQQHSHUHLUD#LQWKRPDVFRRNFRP
&RPPXQLFDWH,QGLD.DSLO'DU\DQLNDSLO#FRPPXQLFDWHLQGLDFRP_1DWDVKD'¶VRX]D
QDWDVKDG#FRPPXQLFDWHLQGLDFRP