The insolvency of Europe’s third-largest tour operator is now affecting other customers: trips until the beginning of July are canceled. After that, the summer holidays will begin.
The travel group FTI Touristik has cancelled all trips for the next four weeks. Together with the provisional insolvency administrator and the travel security fund, it was decided to cancel all travel bookings through FTI Touristik, the sales brand 5vorFlug and BigXtra Touristik with departure dates up to and including Friday, July 5, the company announced in Munich. It is unclear whether package tours can be carried out by other providers from July 6.
“A solution seems possible, but not in the next few days,” said the provisional insolvency administrator Axel Bierbach. The cancellation of all trips starting on vacation in the next four weeks gives customers planning security and flexibility. The decision affects all package tours, individual bookings and individual services. The subsidiary BigXtra Touristik, which belongs to the FTI Group, also filed for insolvency at the Munich District Court on Thursday.
The aim is to enable holidaymakers from July 6th to travel to their planned destination at the planned time at the agreed travel price, taking into account the deposit already paid, said Bierbach. This would be an opportunity for customers with large deposits or a small budget in particular to travel without having to wait for the travel costs already paid to be reimbursed by the DRSF travel insurance fund. But given the upcoming summer holidays, the decision as to whether all remaining bookings will be cancelled or taken over by other providers must be made quickly. Negotiations with competing companies are ongoing.
Source: Stern
