Former Thomas Cook chief lined up to chair German OTA itravel

Peter Fankhauser was at the helm of the travel giant when it collapsed in 2019

The boss of Thomas Cook Group at the time of its collapse is reportedly returning to the travel sector.

Peter Fankhasuer, who was chief executive for five years until its collapse in September 2019, is to become chairman of German OTA itravel, according to The Times. 

Fankhauser has also been named as chief executive of leadership development consultancy Manres.

Thomas Cook fell into liquidation leading to the biggest repatriation of holidaymakers in peacetime history after a failed attempt to secure a £900 million rescue deal with its creditors and Chinese leisure conglomerate Fosun.

Fankhauser became chief executive in November 2019 after both Harriet Green and Manny Fontenla-Novoa had been at the helm of what was at the time the UK’s second largest travel group after Tui.

The Insolvency Service disclosed in January it would take no further action against former directors of Thomas Cook Group.

The Thomas Cook brand was relaunched as an online entity in the UK by Club Med owner Fosun a year after the failure. Hays Travel had previously acquired the Thomas Cook retail estate.