 The company was nationalised along with the railways in 1948, becoming part of the British Transport Commission.After de-nationalisation in 1972, it was acquired by a consortium of Trust House Forte, Midland Bank and the Automobile Association, then subsequently bought by Westdeutsche Landesbank in 1992.In 2001, it was acquired by the German company C&N Touristic AG, which changed its name to Thomas Cook AG.