Thomas Cook ‘weeks away’ from Intourist deal

Thomas Cook is being linked with a move into Russia through a deal with Intourist.

A multi-million pound joint venture to tap into the burgeoning Russian travel sector has been mooted.

An agreement is said to be weeks away after group chief executive Manny Fontenla-Novoa travelled to Moscow for talks which may lead to an agreement with Intourist parent company Sistema, according to weekend reports.

Although neither side has commented, Thomas Cook is known to be keen to follow rival Tui in expanding into Russia to boost sales to popular destinations such as Egypt and Turkey.

The Russian company’s president Alexander Arutyunov has been quoted as saying Intourist’s strategy involved possible strategic alliances with global companies in Europe.

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