Thomas Cook collapse may hit India's inbound travel and its forex earnings

Agencies
September 24, 2019

New Delhi, Sept 24: With British travel giant Thomas Cook going belly up, India's inbound travel could be severely hit and hence adversely impact foreign exchange (forex) earnings too in the months to come.

Travel industry sources said that Thomas Cook sends a lot of high-spending tourists to India from countries such as UK, Germany and France. Countries like UK, Germany and Italy where Thomas Cook has a good presence are the key source markets for India.

"The shutdown of Thomas Cook would certainly impact inbound travel. The whole travel industry is struggling," said Harjinder Singh, Director of Delhi-based 24*7 Travels.com.

As per the latest official data, UK's share in India's total foreign tourist arrivals (FTAs) was 8.01 per cent in August 2019.

Among the top European source markets, German tourists accounted for 1.85 per cent of the total FTAs in the previous month. The total FTAs in August 2019 were 7,98,587 as compared to 7,86,003 in August 2018, registering a growth of 1.6 per cent.

With global slowdown casting its shadow on travel business, the FTA growth is likely to be tepid in coming months. With Thomas Cook, one of the world's top travel firms, going bankrupt, the travel business is certainly going to see a tough time.

While Thomas Cook India is a completely separate entity from Thomas Cook UK post its acquisition in 2012 by Canada-based Fairfax Financial Holdings, reaching out to each wary customer following the recent development would not be easy for the Indian firm.

"With the recent developments relating to the iconic British Travel Company, Thomas Cook PLC, being reported in the media, it is imperative to highlight that Thomas Cook India Group is a completely different entity since August 2012 when it was acquired by Fairfax Financial Holdings (Fairfax), a Canada-based multinational with varied interests across the globe as well as in India," Thomas Cook India said in a statement to allay fears of its clients and customers.

An industry insider, however, said it is a big task for Thomas Cook India to convince common people that it is not related to the ailing UK travel firm.

Madhavan Menon, Chairman and Managing Director, Thomas Cook (India), however expects other tour operators in the UK to fill the gap and said that the situation would settle down in the "medium term".

Speaking to IANS, Menon said: "In the UK, I expect that other tour operators will take up the capacity. It will not be a problem, there are many tour operators."

"In the immediate terms there may be rise in prices... or the yields for the tour operators in UK, but in the medium term I expect things to settle down," he added.

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News Network
July 18,2020

New Delhi, Jul 18: The Covid-19 lockdown-led reduction in air pollution levels across five Indian cities, including Delhi and Mumbai, may have prevented about 630 premature deaths, and saved USD 690 million in health costs in the country, according to a new study.

Scientists, including those from the University of Surrey in the UK, assessed the levels of harmful fine particulate matter (PM2.5) from vehicles and other sources in five Indian cities -- Delhi, Mumbai, Kolkata, Chennai and Hyderabad -- since the beginning of the lockdown period.

The study, published in the journal Sustainable Cities and Society, compared these lockdown PM2.5 figures from 25 March up until 11 May, with those from similar periods of the preceding five years, and found that the measure reduced pollution levels in all these places.

According to the scientists, during this period, the levels of these harmful air pollutants reduced by 10 per cent in Mumbai, and by up to 54 per cent in Delhi.

"The percentage reduction for the other cities ranged from 24 to 32 per cent, which was slightly smaller than the measured values for Delhi and Mumbai," the scientists noted in the study.

"While the reduction in PM2.5 pollution may not be surprising, the size of the reduction should make us all take notice of the impact we have been having on the planet," said Prashant Kumar, a co-author of the study from the University of Surrey.

The scientists said these reductions in PM2.5 were comparable to those reported in other cities across the world, such as in Austria's capital Vienna (60 per cent), and Shanghai (42 per cent) in China.

They also calculated the monetary value of the reduced mortality due to air pollution and found that the lowered levels of PM2.5 may have saved 630 people from premature death, and USD 690 million in health costs in India.

Coronavirus India update: State-wise total number of confirmed cases, deaths on July 17

According to the researchers, the present lockdown situation offers observational opportunities regarding potential control systems and regulations for improved urban air quality.

They said an integrated approach might help in understanding the overall impacts of Covid-19 lockdown-style interventions and support the implementation of relevant policy frameworks.

"This is an opportunity for us all to discuss and debate what the 'new normal' should look like - particularly when it comes to the quality of the air we breathe," Kumar said.

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News Network
May 25,2020

New Delhi, May 25: India witnessed the highest ever spike of 6,977 positive cases in the last 24 hours, taking the total number of COVID-19 to 1,38,845, according to the Union Ministry of Health and Family Welfare.

India is now among the top 10 countries in the world regarding the total number of COVID-19 cases.

With 154 deaths reported in the last 24 hours, the total number of deaths due to COVID-19 now stands at 4,021 in the country.

Out of the total number of cases, 77,103 are active cases and 57,721 have been cured/discharged/migrated.

Maharashtra continues to remain the worst affected state with 50,231 COVID-19 cases, followed by Tamil Nadu (16,277), Gujarat (14,056) and Delhi (13,418).

The fourth phase of the nationwide lockdown imposed as a precautionary measure to contain the spread of COVID-19 is scheduled to end on May 31.

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Agencies
January 5,2020

New Delhi, Jan 5: A masked mob on Sunday entered the Sabarmati Hostel on the Jawaharlal Nehru University (JNU) campus and assaulted several students and professors with sticks and rods.

"I have been brutally attacked by goons wearing masks. I am bleeding. I was brutally beaten up," JNU Students' Union (JNUSU) president Aishe Ghosh told reporters.

She has been admitted to the AIIMS here for treatment.

Several other students were also injured in the incident.

In a video of the incident, a group of goons with their faces covered can be seen assaulting students with wooden sticks and rods.

A tweet from the official handle of the JNUSU said, "Sabarmati Hostel: right now. They are beating the students who are inside. Knocking on doors with rods. People are jumping from balconies. #SOSJNU #EmergencyinJNU."

"Professors who were trying to protect us have been beaten up. These are unknown ABVP goons, not all are students, they have covered their faces, and they are moving towards the hotels near the West Gate. Stay alert. Make human chains. Protect each other. #SOSJNU #EmergencyinJNU," another tweet added.

Meanwhile, the ABVP's JNU unit claimed in a tweet: "Emergency in JNU. Leftist goons of JNU accompained with their cadre from other universities have crossed every limit. They have proceeded with unimaginable violence on ABVP activists of JNU."

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