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Travel firm sells products arm

Thomas Cook has sold its UK travel products business Essential Travel to Holiday Extras Group for gross proceeds of £2.1 million.

The tour operator will continue to offer ancillary products such as airport and cruise terminal parking, airport hotels and lounges and travel insurance through a new commercial agreement with Holiday Extras.

Thomas Cook said it will recognise a loss of £15m on the disposal mainly arising from goodwill recognised at the time it bought Essential Travel in March 2010.

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