Thomas Cook (India) Limited has expanded its airport foreign exchange network with the opening of forex counters at Alluri Sitarama Raju International Airport in Bhogapuram, strengthening its presence in the Visakhapatnam market and wider Andhra Pradesh region. The new counters will offer travellers convenient access to a range of foreign exchange services and currencies.
The expansion is part of the company's strategy to tap into growing demand from India's tier 2 and tier 3 markets. According to Thomas Cook India's India Forex Report 2026, Tier 2 cities account for 41% of overall forex demand, while Tier 3 cities contribute a further 12%. Together, these markets account for 53% of overall forex demand.
Visakhapatnam represents an important market within this broader shift. The new Alluri Sitarama Raju International Airport is expected to handle over 28 lakh domestic and international passengers annually. The airport currently has international connectivity to destinations including the UAE and Singapore, with potential addition of further Southeast Asian routes expected to support international passenger growth.
This expansion follows recent airport network developments including:
- Reopening of forex counters at Delhi Terminal 1 & 2 in June & July 2026
- Opening of multiple forex counters at both terminals of Kempegowda International Airport, Bengaluru earlier in 2026
Thomas Cook India's airport counter transaction data shows diverse purposes driving outbound travel:
- Leisure and holiday travel (largest segment)
- Employment-related travel
- Reconversion transactions (NRIs/foreign nationals converting unspent Indian currency)
- Student travel
Mr. Deepesh Varma, Chief Business Officer – Foreign Exchange, stated: "The opening of our new forex counters at Alluri Sitarama Raju International Airport is an important step in strengthening our presence in Visakhapatnam and the wider Andhra Pradesh market. Our India Forex Report 2026 highlights the significant contribution of Tier 2 and Tier 3 markets, which together account for over half of overall forex demand."
The company maintains a CRISIL rating of 'CRISIL AA/Stable' on long-term bank facilities and 'CRISIL A1+' rating on short-term bank facilities and short-term debt, which is the highest rating for a travel & tourism company in India.
Fairbridge Capital (Mauritius) Limited, a subsidiary of Fairfax Financial Holdings Limited, is the promoter of TCIL with a shareholding of 64.77% of its paid-up capital.