To be able to reveal the changes in tour operators’ approach towards crisis management a comparative
analysis was used to assess internal documents and Annual Reports of the two world’s largest leisure travel
groups – TUI and Thomas Cook in the period 2000 – 2011. It is important to stress that during this period The
European organized travel market went through significant structural changes. The most intensive consolidation
processes resulted in creation of the two largest leisure travel concerns in the world that operate and control
nearly 30 source markets. Their strength can be also illustrated by the following data: in 2010 they realised
revenue of almost 55 billion Euros and recorded 52.5 million customers. Through mergers and acquisitions TUI
and Thomas Cook have gained control over the chains of distribution, fleet of aircraft and a significant number
of accommodation facilities in tourism receiving countries, of incoming travel agencies and other parts of the
supply chain. TUI AG and Thomas Cook Group as highly integrated travel concerns can benefit from the
integrated approach to mitigate some common risks spreading across the Group’s value chain. However, at the
same time such organisational structure also represents an increased level of risk for the number of crises
occurring in different source markets and in different segments of their business which could result in highly
destabilising effects for the company