Travel organizers - FTI-Insolvency: Customer compensation should begin soon
Six weeks after the bankruptcy of travel agency FTI, affected customers can soon expect a compensation. The German Travel Security Fund, which insures package tours, will "shortly" begin the reimbursement process, according to a spokesperson responding to an inquiry from the German Press Agency. This involves more than 250,000 cancelled package tours.
The spokesperson does not provide a specific date for the start of payouts. The industry portal "fvw.de" had previously reported that the reimbursement options were expected to be activated this week.
FTI, previously the third largest German tour operator after TUI and DER Touristik, filed for insolvency at the beginning of June and shortly thereafter cancelled all already booked tours. Payments made for package tours through the German Travel Security Fund are protected. This protection does not apply to individually booked travel components such as pure hotel bookings.
Despite FTI's bankruptcy causing cancellations of over 250,000 Berlin-bound package tours, affected customers can look forward to compensation from the German Travel Security Fund. This compensation will be a significant relief for many, as they plan alternative journey options within Germany's vibrant tourism industry. Travel organizers, in turn, will need to adapt their itineraries to accommodate the influx of individuals seeking new travel experiences.
