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It’s beneficial for Indian customers: Thomas Cook
It’s beneficial for Indian customers: Thomas Cook. The Greece crisis is actually beneficial for Indian customers, tour and travel operator Thomas Cook told a business news channel. Greece is staring at the possibility of being shunted out of the euro zone as it is likely to default on its debt payment to IMF.
New Delhi: The Greece crisis is actually beneficial for Indian customers, tour and travel operator Thomas Cook told a business news channel. Greece is staring at the possibility of being shunted out of the euro zone as it is likely to default on its debt payment to IMF.
"We see a customer benefit out of this entire crisis. As far as Greece is concerned, yes we do send tourists and as far as I know we have approximately 20 or 25 tourists on the ground as we talk," Madhavan Menon, MD, Thomas Cook India said.
The weakening of the euro on the back of the Greece crisis was anticipated for some time and Thomas Cook has been passing on the benefit of the depreciation of the euro or strengthening of the rupee to customers, Menon said.
However, Menon said that anticipating higher volatility in euro Thomas Cook has tightened hedging norms and hedged their entire foreign exchange exposure both in the foreign exchange business and leisure travel business.
