Who would have thought a secret could be kept so well hidden in the travel trade?
This week’s announcement of a Thomas Cook/MyTravel merger sent the industry reeling. Not even those with their ears to the ground knew.
Not the big wigs in the City, not the analysts, not the industry gossips. Which makes it even more ironic how quickly they have all been to sing the deal’s praises.
It would appear a solution has been found to over-capacity; four players becoming three can only be good news.
The tie-up makes sense – the companies complement each other geographically, and in many ways on product. For MyTravel, a company on its knees just five years ago, this is cause for celebration.
But what of the foot soldiers; the frontline agents in the group’s 1,030 shops and the hundreds of head-office employees across marketing, sales, admin, PR, finance and HR?
However the new group tries to dress this up this is not good news for them.
Redundancies will be significant and employees’ ability to adapt their skills will be more important than ever as homeworking companies and others come knocking.
Meanwhile, the person most shocked this week must surely be Peter Long, First Choice chief executive.
Sources said Long, told the news in the early hours of Sunday by old friend and new boss of the Thomas Cook Group Manny Fontenla-Novoa, was shocked by the news.
He could well be incensed that talks between his company and its rivals were used as a smoke-screen while this merger was planned.
The fact First Choice has been forced to terminate talks for a sale of its mainstream division may weaken its credibility and position, but for a business built to be a smaller market player all is far from lost.
First Choice remains a solid, successful business – packages and all.
And while the Thomas Cook Group spends the next two years deciding how it will merge, there is plenty of time for Long to revert to his Plan B – another of travel’s best kept secrets.