Travel firms big or small aren’t doing too well and coping in this deadly pandemic. As a result of travel restrictions it’s not only foreign travel that has been canceled for the past 18 months but also travel within the country as well.
Some countries have restricted even crossing district borders so that the virus can be contained within that one city alone. Now most big travel firms usually deal with Outbound and Inbound travel. Which is that they deal with foreign and localized travel. When the restriction came about travel agents started taking a massive hit.
Thomas Cook is a giant travel agent who have multiple offices around the world. But it is the one firm in India that is taking massive hits financially right now. The Travel services provider Thomas Cook India has reported widening of consolidated net loss to Rs 20.23 crore for March quarter 2020-21, impacted by the pandemic.
They stated that the Total income from operations stood at Rs 401.64 crore in the quarter under review. It was Rs 1,109.02 crore in the same period a year ago. For 2020-21, the company posted a net loss of Rs 295.19 crore as against a loss of Rs 17.65 crore in the previous year, Thomas Cook India Ltd (TCIL) said. Total income from operations stood at Rs 945.74 crore in the year. It was Rs 6,948.30 crore in 2019-20, it added.
