"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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Shares in travel group Thomas Cook have surged 14% after it announced details of its turnaround strategy.

BBC: Thomas Cook shares surge on strategy update

Struggling travel group Thomas Cook has reported widening annual losses due to reduced capacity and higher fuel costs.

BBC: Thomas Cook sees losses widen on higher fuel costs