German-based travel and tourism titan C&N is planning a Europe-wide online travel portal, according to group chairman Stefan Pichler.
The move follows C&N’s acquisition of Thomas Cook, the Britain's top travel chain and online travel vendor. Although Pichler declined to reveal under which brand name the portal would be launched, he conceded that Thomas Cook is capable of becoming a pan-European marque.
Pichler wants to create a travel brand that can span Europe, contending that “[rival] brands like Neckermann, TUI or Nouvelles Frontières, which target the mass market, at present have no European potential”.
A multinational structure would, according to Pichler, pave the way for an initial public offering of C&N by 2003.
News Source: Handelsblatt