The cancellation of all bookings in the next seven days was announced by the Youtravel.com, after the owner of FTI Touristik GmbH announced that the tour operator FTI Touristik, a member of FTI GROUP, filed for bankruptcy.
The bankruptcy announcement came just six weeks after FTI GROUP revealed it would receive €125 million. from the investment group Certares.
FTI Group announced yesterday, June 3, that other FTI Touristik companies could also file for insolvency, but Youtravel said it was planning “a future course of action without the support of FTI Touristik GmbH”.
In an update to trading partners, Youtravel said: “On 3 June 2024, FTI Touristik GmbH, parent company of FTI GROUP and one of Europe’s largest tour operators, filed for insolvency proceedings. It is important to note that currently, only the brand of the tour operator FTI Touristik is directly affected by this situation. As far as youtravel.com is concerned, we are a separate entity and are actively working to determine a future course of action without the support of FTI Touristik GmbH. We recognize that at present, this does not provide sufficient clarity to our valued partners.”
This is an incredibly difficult time for our colleagues at FTI.”We are committed to working diligently in the coming days to support all our partners.”
“For information, due to the difficult situations in our DMCs, we have taken the decision to cancel the next seven days of arrivals from June 4,” the statement reads, which concludes: “Further updates will be announced soon. Thank you for your understanding and continued support.”
