FTI suspends all group trips until July 5; possible extensions beyond that date.
Over the next four weeks, individuals who've reserved travels through FTI will need to adjust their plans: FTI has terminated all travels for this period due to the company's bankruptcy. There are also ongoing discussions about whether journeys previously scheduled before July 6 can still occur.
The struggling travel conglomerate FTI has terminated all package tours up to and including July 5. These trips involved too much uncertainty for the travelers, according to insolvency administrator Axel Bierbach. In conjunction with the Travel Risk Protection Fund, all bookings through FTI Touristik, the distribution brand 5vorFlug, and BigXtra Touristik with a departure date up to and including Friday, July 5 have been canceled. Across Germany, summer vacations have begun in five states, with seven more to follow in the next two weeks.
If package tours after July 6 can continue with other companies is uncertain. "A solution seems feasible, but not within the next few days," Bierbach stated. The cancellation of all trips for the next four weeks allows customers to have more stability and flexibility in their plans. This expansion includes all package tours, personal reservations, and individual services.
The goal is to facilitate clients to journey at their intended time to their desired destination, while incorporating their already paid deposits. This alternative would enable individuals with high deposits or limited budgets to travel without delaying the return of their paid travel fees from the Travel Risk Protection Fund DRSF. However, due to the approaching summer holidays, a decision on whether to terminate all remaining bookings or hand them over to other providers must be made expeditiously. Discussions with competing organizations are taking place.
Competing companies such as TUI, Dertour, or Alltours are offering flexible cancellation options to appeal to FTI customers. Some are already in communication with hoteliers to resume FTI's business. The gap in the market created by the third-largest German tourism company's insolvency could be quickly filled.
Yesterday, the insolvency administrator claimed that the primary focus was on the roughly 60,000 individuals who were en route to their destinations. "We are attempting to ensure that the travelers can conclude their getaway as planned and return home safely and methodically," Bierbach remarked. For customers of current package tours, the German Travel Risk Protection Fund will step in, Bierbach confirmed.
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- Despite the uncertainties, discussions are ongoing to see if package tours can continue after July 6 with other travel companies.
- Many package tours, including those booked through FTI Touristik, 5vorFlug, and BigXtra Touristik, were scheduled for July dates, which have now been canceled due to FTI's bankruptcy.
- Customers who had booked package tours with FTI, with departure dates up to and including July 5, will need to adjust their plans due to the company's suspension of all group trips until July 5.
