Chief executive Manny Fontenla-Novoa said the company was also on the lookout for acquisitions, as rivals struggled with rising fuel costs and slowing consumer spending.

BBC: Thomas Cook sign

"This is an acquisition that fits perfectly with our strategy of enhancing Thomas Cook's position in the independent travel sector and will also further strengthen our mainstream business, " said Thomas Cook Group chief executive Manny Fontenla-Novoa.

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"Manny is a fighter and there is still the desire, " Pineda said.

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"After Manny, I'll be the second guy Freddie spends all his time with, " said Khan.

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