FTI’s collapse hits 65,000 tourists and 11,000 workers

Munich, Germany.- In an official statement released yesterday, FTI announced that as of Tuesday, June 4, it will no longer send tourists to any destination, effectively halting its operations. The company emphasized that it is “working hard” to ensure that trips already in progress can be completed “as planned.”

Combined Trips are Protected

FTI has established a customer service hotline and a website with frequently asked questions to manage the anticipated surge in complaints. The company clarified on this portal that customers whose vacations are canceled before departure will be covered by the German Travel Security Fund (DSRF), from which they can request refunds.

However, the Fund’s coverage is limited to those who booked combined trips, which include at least flight and accommodation. “Unfortunately, individual services are not covered by the legal protection of package travel insurance and, therefore, are not covered by the DRSF,” FTI stated, indicating that simple flight or hotel bookings will not be reimbursed.

The tour operator also assured that it would cooperate with the DSRF to organize the repatriation of tourists already at their destinations who cannot extend their vacations. https://www.fti-group.com/en/insolvency

Impact on Tourism

The sudden declaration of insolvency by FTI Touristik, Europe’s third-largest tourism group, has sparked concerns reminiscent of the 2019 Thomas Cook bankruptcy. Although not as catastrophic, Germany warns of the significant impact on tourists and workers.

Anke Budde, president of the Alliance of Independent Travel Companies (ASR), stated that the bankruptcy of FTI will have “far-reaching consequences for the entire tourism sector.” Budde noted, “The insolvency of tour operators FTI and BigXtra is a severe blow to the tourism industry; around 65,000 customers and over 11,000 workers and their business partners now face an uncertain future.”