Thomas Cook, One of the most established Travel Agencies worldwide, had announced its bankruptcy several months earlier. Thomas Cook’s liquidation resulted in the cancellation of 25,000 booked reservations in Egypt.
Samih Sawiris aquired the travel giant through Raiffeisen Touristik (RT) Group owned by him.
Sawiris is head of Orascom Development based in Egypt. He is also credited with founding El Gouna, a luxurious Egyptian resort town located near Hurghada, and several other real estate projects all over Egypt.
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