India is planning to open 100 additional airports by 2024, as part of a plan to revive economic growth in Asia’s third-largest economy.
With economic activity at a six-year low and prospects of further slowdown looming, the government is keen to double down on infrastructure projects in a bid to revive growth and achieve a target of making India a $5 trillion economy by 2025.
The Indian government has committed investments of 1 trillion rupees to build airports in the next 5 years and plans to have 450 functional airports by 2035.
Fosun, the Chinese conglomerate, has acquired Thomas Cook’s brand and its intellectual property assets for £11m.
The Fosun plans on acquiring the Thomas Cook name, related operations such as its upmarket Casa Cook and Cook’s Club brands, and other intellectual property such as domain names, apps, social media and IP addresses.
Fosun was part of the group of lenders and bondholders that sought to put together a £900m rescue package that would have saved Thomas Cook in September.