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Tourism: FTI bankruptcy without major impact on summer season

Tourism: FTI bankruptcy without major impact on summer season
Tourism: FTI bankruptcy without major impact on summer season

The tour operator’s insolvency at the beginning of June caught many holidaymakers off guard. However, tourism experts expect that only a few will have to forego their summer vacation.

According to one expert, the insolvency of Europe’s third-largest tour operator FTI will have little impact on travel behavior in the upcoming summer holidays. “The skins are already being distributed. There are enough offers from other tour operators who are now trying to attract customers,” tourism expert Torsten Kirstges from the Jade University in Wilhelmshaven told the dpa. “As a customer, you won’t notice any change in the travel market.”

Competitors such as Tui and DER Touristik launched offers for their customers immediately after FTI filed for bankruptcy and are increasing their quotas to create additional places. “It is clear that the travel flows will simply be distributed among the others,” said Kirstges. “As a customer, you will not notice the loss of a provider.”

Thanks to the protection provided by the German Travel Insurance Fund, package holidaymakers can expect a refund of the money they have already paid. Kirstges believes that only a very small minority of FTI customers would therefore forego their summer holiday altogether. “That will only be a tiny minority.”

The FTI partners in the travel industry will be hit much harder. “The ones who suffer are the hotels and travel agencies, for whom there is no such protection. Many of them have not received their hard-earned commission or their money for the accommodation and catering services provided to the guest.”

Source: Stern

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