After the bankruptcy of tour operator FTI: customers can expect to be compensated soon
Nearly ten weeks after the collapse of travel agency FTI, affected customers can soon expect compensation. The German Travel Insurance Fund (DRSF), which covers package tours, has now begun the refund process, as announced by the DRSF. This is likely to be "one of the largest refund processes for consumer protection in the history of the Federal Republic," said Co-CEO Ali Arnaout.
According to the information, this involves more than 215,000 cancelled package tours. Additionally, there are 60,000 package tourists who were already on vacation with FTI at the time of the insolvency. The refund volume amounts to a mid-triple-digit million amount. From today, those affected will be contacted and will then be able to submit their refund application online. Previously, a spokeswoman had said that the majority of refunds should be made by autumn.
FTI, previously the third-largest German tour operator after TUI and DER Touristik, filed for insolvency at the beginning of June and subsequently cancelled all previously booked trips. The DRSF already covers payments made for package tours against the insolvency of the tour operator. This protection does not apply to individually booked travel components such as pure hotel bookings.
Despite the insolvency of FTI, affected customers can look forward to compensation. Over 215,000 customers with cancelled package tours and 60,000 customers on vacation at the time of the insolvency will be a part of this massive refund process.
