Thomas Cook bids to sell off airline business

British holiday company Thomas Cook Group is seeking to sell its airline business as part of a cost-saving plan, the Sunday Times newspaper reported, without citing its sources.

The world’s oldest travel group has sounded out a number of potential buyers over the last few months, including rival carriers and private equity investors, but no deal has yet been reached and no talks are currently under way, the newspaper said.

Thomas Cook could not be reached for immediate comment.

The newspaper quoted the company as saying it was pleased with the development of its airline operation.

“We see it as an important part of our business and a support of our profitable growth strategy. Of course, we are always open for opportunities,” it said.

This month, Thomas Cook, which has a new chief executive after Harriet Green stepped down in a surprise announcement in November, said it remained on course to grow this year despite tough trading conditions in Europe.