Both Eurowings and Condor assess economic impact as manageable.
The two major German holiday airlines, Eurowings and Condor, believe they can handle the financial impact of the collapse of tour operator FTI. According to a spokesperson for Eurowings in Cologne, the company is waiting for instructions from the insolvency administrator before they can resell the reserved seats. Neither Eurowings nor Condor have released any information on the number of seats affected.
It was learned that the FTI teams at both airlines have recently been reduced. The tourism company had to pay for the tickets with both airlines on the day of the flight, insiders said, adding that these were normal industry practices.
"We believe the gap left by FTI's insolvency will be filled quickly by the market," stated a Condor representative. Other tour operators, like TUI, are already running special promotions. Additionally, the Eurowings Holidays brand has package deals with better terms for FTI passengers who can't currently complete their trip. Travelers must provide their original trip confirmation during booking. There's already a notable surge in interest in alternative travel options, said the airline spokesperson.
Both Condor and Eurowings assure that they won't leave FTI customers stranded at their destinations and will fly them home instead. Discover Airlines, a Lufthansa holiday airline, confirmed on Tuesday that they've also been affected by FTI's collapse. "FTI is a major partner for Discover," said CEO Bernd Bauer. They're currently assessing the effects.
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Eurowings and Condor, despite the financial implications of FTI's insolvency, are confident in their ability to manage the consequences, as they await instructions from the insolvency administrator before reselling affected seats. The insolvency of FTI has led to recent reductions in FTI teams at both airlines, with both parties having to pay for the tickets on the day of the flight according to industry practices.
