Turkish travel entrepreneur raises Thomas Cook stake

The owner of a Turkish travel firm has raised his stake in Thomas Cook.

Neset Kockar, the entrepreneur who founded Anex Tourism Group, upped his stake in Thomas Cook to 8% yesterday.

The move came just 24 hours after it was disclosed that Kockar had acquired a 6.71% shareholding.

The investment saw shares in Thomas Cook rise by more than 50% in two days and stood at 7p yesterday – still way off the level of a year ago.

Anex operates under the name Anex Tour in Russia, Ukraine, Kazakhstan and Germany and also with its Orex Travel companies in the Czech Republic, Slovakia and Poland.

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The group operates 26 Boeing aircraft with three different airline companies in Russia, Ukraine, and Germany under the Azur Air brand.

Anex Tour handles about three million holidaymakers a year with operations across Europe, the Middle East, Asia and the Caribbean.

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But the company has not said whether it wants to be involved in any turnaround of Thomas Cook or if it is purely making an investment.

Thomas Cook confirmed three weeks ago that it was in “advanced discussions” that would see its tour operating arm take over by Chinese conglomerate Fosun – owner of Club Med – and banks through a £750 million recapitalisation.

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