Thomas Cook Scandinavia sold to Norwegian Billionaire

The 3 Scandinavian travel companies, Ving (NO/SE), Spies (DK) and Tjäreborg (FI) have been sold to the Norwegian investment fonds Altor and TDR. 

It came as a shock for most of Europe when one of the largest travel companies in the world, Thomas Cook, declared bankruptcy at the end of September 2019. Leaving more than 600.000 tourists stranded in various locations around the world, not offering any solutions. 

One month after the disaster, Norwegian investment fonds TDR and Altor with the charismatic billionaire Petter Stordalen in the head of the project announced that Ving, Tjäreborg and Spies were “coming home”, in other words, the travel group was back in Scandinavian hands. 

A healthy market

The Scandinavian travel market has proven to be profitable for many years and most importantly the market is stable and the clients are loyal. These parameters made it an easy business case for the investors to make the move and buy up the Scandinavian part of the fallen giant Thomas Cook.  

What will change in Skiathos

Talks of expanding the routes from Scandinavia are in the cards, but if it will benefit Skiathos is still too early to conclude. All 3 brands, Ving, Spies, and Tjäreborg will remain, but take back the more prominent umbrella function that Thomas Cook Scandinavia was implying. The changes will mostly be visual as Thomas Cook Airlines has changed the name to Sunclass Airlines. Sunclass Airlines will be operating all the flights from Norway, Denmark, and Sweeden to Skiathos. 

Ving will send its first flight from Stockholm to Skiathos on the 10th of Mai of 2020 at 06:10. 

The first flight from Copenhagen to Skiathos with Spies is scheduled for the 12th of Mai 2020 at 7:00. One week later, on the 19th of Mai, the first flight from Oslo to Skiathos with Ving is scheduled.

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