ARTAC agents will be able to cash in on the lucrative foreign exchange market under its alliance with Thomas Cook.
A number of options are under discussion between the two parties, including installing Thomas Cook booths in ARTAC shops.
Chairman Colin Heal admitted his members are weak in foreign exchange, generating an annual income of ú6m. Thomas Cook rakes in ú1.2bn. “We will offer our expertise in foreign exchange if ARTAC want us to,” said retail and direct managing director Andrew Windsor. “There are several options including Thomas Cook paying a rental change or a percentage of revenue for us to operate a booth in shops.”
Also being considered is a plan for Thomas Cook to fund the installation of booths in exchange for a share of the profits.
Windsor said ARTAC could benefit by holding currencies of long-haul destinations.